- EBRD has lent PLN 212 million for Goldbeck Solar and Respect Energy’s Polish solar project with 285.6 MW capacity
- Proceeds will be deployed to construct and operate what’s being touted as the largest solar PV plant in Poland
- It is being constructed in Zwartowo region through a special purpose vehicle called Stigma Sp
The European Bank for Reconstruction and Development (EBRD) will provide PLN 212 million ($49 million) to Solarnet Investment GmbH to construct Poland’s ‘largest’ solar PV plant with up to 285.6 MW capacity.
Solarnet Investment, the investment arm of Goldbeck Solar Group, holds the majority stake in the special purpose vehicle Stigma Sp that will construct the facility at Zwartowo.
EBRD said the amount will be a part of a larger package co-financed by commercial banks PKO BP SA and Pekao SA. The loan will be deployed by the project company to construct and operate the PV facility.
The facility is currently under construction with 60 MW having been built. Goldbeck Solar announced the project back in January 2021 with Respect Energy calling it the largest PV power plant in Central and Eastern Europe (see 203 MW Solar Power Project Coming Up In Poland).
The solar power plant will also help strengthen the country’s energy security as it transitions away from coal that still comprises more than 70% of its electricity generation (see Poland Approves Energy Policy Until 2040).