Expansion of green energy and Poland’s green recovery from the coronavirus pandemic

The European Bank for Reconstruction and Development (EBRD) is supporting the expansion of green energy and Poland’s green recovery from the coronavirus pandemic, with a local currency loan of PLN 173 million (€39 million equivalent) to finance two new wind farms with a combined capacity of 59 MW.

The project includes the development, construction and operation under the Polish renewable energy auction support scheme (contract for difference) of a wind farm in the north-western village of KrzÄ™cin with a 19 MW capacity and one in the village of KuÅ›lin in central-western Poland with a 40 MW capacity. 

The loan, which is being co-financed by BayernLB, will be provided to two Polish special-purpose vehicles that are ultimately owned by WKN GmbH, a German renewable energy developer focusing on investments in utility-scale wind projects in Europe. WKN GmbH is owned by PNE AG, a German renewable energy developer listed on the Frankfurt Stock Exchange.

Grzegorz Zielinski, EBRD Regional Director for Central Europe and the Baltic states, said: “We are very glad of this first cooperation between the EBRD and WKN to help Poland progress its green transition journey, and we look forward to further strengthening the relationship in the future.”

“We have already made a significant contribution to the expansion of environmentally friendly wind energy in Poland with major projects, and this project is intended to be a further positive step. We are pleased about the cooperation with EBRD,” said Roland Stanze, Managing Director of WKN.

Poland still generates 80 per cent of its energy from coal, with harmful effects on the environment and human health. The country has committed itself to the EU climate and energy targets for 2030, which include a reduction of at least 40 per cent in greenhouse gas emissions. Renewable energy has a key role to play in meeting that goal.

The EBRD is committed to supporting Poland’s green transition with investments in renewable energy and energy efficiency, as part of a green and sustainable economic recovery following the coronavirus pandemic.

The EBRD started investing in Poland in 1991 and to date has provided more than €10.3 billion through more than 430 projects in all sectors of the economy.