“Poland: First EIB support for solar energy project” – European Investment Bank (EIB) – May 27, 2020

In a press release distributed on May 27, 2020 the European Investment Bank (EIB) announced that it “signed today its first loan to a company building and running photovoltaic plants in Poland. The EU bank will lend PLN 82m (around EUR 18m) to Energy Solar Projekty sp.z o.o. for the construction and operation of 66 small-scale, independent photovoltaic (PV) plants. With an average nominal capacity for each plant of less or equal than 1 MW, the total capacity will reach about 65,6 MW. This is the equivalent of 19,000 households, which could be supplied with the energy generated by the project.

The borrower, Energy Solar Projekty sp.z o.o, is a subsidiary company of the Energy and Infrastructure SME Fund managed by the Lithuanian-based investment management company Lords LB Asset Management.

The operation has the guarantee of the European Fund for Strategic Investments (EFSI), which is the financial pillar of the Investment Plan for Europe jointly managed by the European Commission and the EIB. The EIB is co-financing the project with DNB Bank Polska, each bank providing 50% of senior debt (total amount PLN 164m). The shareholders of the borrower (Energy Solar Projekty sp.z o.o.) will put around 30% of total funding needs of the project.”

You may read the press release on the media centre page of the EIB internet site.