International institution to help finance wind farms in Poland

Marcin Bielecki/PAP

The European Bank for Reconstruction and Development (EBRD) will grant a two-year loan worth PLN 173 million (EUR 40 million) for the construction of two wind farms in Poland, the bank said in a press release.

The loan will help to build a wind farm with a 19-MW capacity in the north-western village of Krzecin, and another with a 40-MW capacity in the village of Kusin, in central-western Poland.

The loan, which is being co-financed by the BayernLB bank, will be provided to two Polish special-purpose companies owned by WKN GmbH, a German renewable energy developer focusing on investments in utility-scale wind projects in Europe. WKN GmbH, in turn, belongs to PNE AG, a German company listed on the Frankfurt Stock Exchange that is involved in the planning, building, financing, operating and selling of wind farms, the EBRD wrote in the press release.