Poland's Polenergia Secures PLN 1.35 Billion for Five Onshore Wind Farms

en.Wedoany.com Reported - On October 30, Polish private energy group Polenergia announced the signing of a new financing agreement totaling PLN 1.35 billion (approximately USD 370 million) with five banks, covering five onshore wind farms with a combined installed capacity of 276 MW, accounting for more than half of its total onshore wind capacity of 493 MW. The agreement has a term of 15 years.

PLN 740 million will be used to refinance previous loans, PLN 99 million for debt service, and the remaining over PLN 500 million for the company's subsequent development investments. The participating banks include five institutions such as Millennium Bank, Bank of China, and China Construction Bank, with mBank serving as facility and security agent and Erste Bank as interest rate risk hedging coordinator.

The five wind farms are Dębsk (121 MW) in Mazowieckie Voivodeship, Mycielin (46 MW) in Lubuskie Voivodeship, Grabowo (44 MW) in Warmińsko-Mazurskie Voivodeship, Szymankowo (38 MW) in Pomorskie Voivodeship, and Kostomłoty (27 MW) in Dolnośląskie Voivodeship. By consolidating the five wind farms into a single portfolio, favorable financing terms were obtained through diversification effects and asset quality, while simplifying the financing structure and creating a flexible instrument capable of providing additional liquidity for the company's development plans.

Polenergia is Poland's largest private energy group, with operations spanning onshore wind and photovoltaic power generation, distribution, and electricity sales. In partnership with Norway's Equinor, it is developing three offshore wind projects in the Baltic Sea—Bałtyk 1, 2, and 3—with a total installed capacity of up to 3 GW, of which all 100 turbine foundations for Bałtyk 2 and 3, totaling 1.44 GW, have been fully installed. Polenergia's strategic goal is to increase its power generation capacity to 1,500 MW by 2030.