Wedoany.com Report-Dec 12, Renewables developer OX2 has secured a €73 million ($76.8 million) financing package from bank Nord/LB for a 100 MW solar farm currently under development in southwestern Poland.

Stockholm-based renewables developer OX2 has secured a €73 million financing deal from German energy transition bank Nord/LB for a 100 MW solar farm in Poland.

The Rutki solar array in southwestern Poland is OX2’s first project in the country. It is already under construction and set to be operational in 2025, when 145,000 ground-mounted solar panels will generate enough electricity to power around 30,000 homes.

A 15-year contract for difference (CfD) is in place with Poland’s Energy Regulatory Office.

Poland added around 4.6 GW of solar in 2023, taking its cumulative installed capacity beyond 17 GW. The country aims to install 29 GW of solar capacity by the end of the decade.

In November, Poland’s Institute for Renewable Energy said building permits have been issued for nearly 1,500 solar projects totaling more than 12.3 GW.