The European Bank for Reconstruction and Development (EBRD) said on May 18 that it would support the nearly 200 MW renewable energy portfolio of French renewable energy producer Qair in Poland, with five loans totaling 280 million zlotys (around 63 million euros), thereby advancing green. energy transition in Poland. BNP Paribas also provides project finance loans to the portfolio on a parallel basis.
Poland, which still generates 80% of its energy from coal, with harmful effects on the environment and human health, has committed to achieving the EU’s climate and energy targets for 2030, which include a reduction of at least 40% in greenhouse gas emissions. Renewable energies have a key role to play in achieving this goal.
According to the EBRD, the portfolio includes the construction under the Polish program of support for the auction of renewable energies (contract for the difference) of 93 MW of new capacity – the three wind farms Udanin (50 MW), Parzeczew (9 MW ) and Wrzesnia (9 MW) and 25 MW of photovoltaic solar energy – as well as the operation of the Linowo (58 MW) and Rzepin (48 MW) wind farms.
The EBRD has said that its loans will be granted to five Polish special vehicles which are ultimately owned by two experienced sponsors – the French developer and operator of renewable energy Qair and the French infrastructure fund RGreen Invest.
“While so much effort is rightly focused on solving the Covid-19 crisis, it is also essential to maintain the momentum behind the green transition,” said the EMEA Energy Team Director of the EBRD, Harry Boyd-Caroam. “Climate change may now seem less immediate, but it is an equally serious challenge. By providing long-term financing under the current circumstances, the EBRD contributes significantly to Poland’s energy transition and demonstrates its commitments to its partners and its strategic objectives. We are delighted to be engaging for the first time with such solid partners as Qair and RGreen Invest in this area, ”he added.
For his part, founder and president of Qair Jean-Marc Bouchet said his company has focused on the energy transition by developing, building and operating renewable assets in France, Europe and the rest of the world. “This EBRD and BNP Paribas funding for operations and new assets in Poland is a clear sign that Qair’s lifelong commitment to promoting green electricity is more relevant than ever and that the strategy that Qair has been pursuing in Poland for more than five years, ”he said.
The EBRD said supporting Poland’s green transition through investments in renewable energy and energy efficiency remains one of the Bank’s priorities in the country.