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European Investment Bank Supports Polish Wind Power Development

EIB has signed a EUR 64 million loan agreement with PGE (Polska Grupa Energetyczna) to finance the construction of three onshore wind farms on the Polish Baltic Sea coast.

Image: PixabayImage: Pixabay

The three wind farms named Starza, Rybice and Karnice II (which will be combined into the Klaster project) will have a combined installed capacity of 97 MW and are located in the north-western part of the Zachodniopomorskie voivodship, in the districts of Kamien Pomorski and Gryfice. They have been under construction since February 2019 at a distance of three to 13 km from the Baltic Sea coast. Commercial operation is expected to start before the end of the first half of 2020.

During loan negotiations, PGE presented its plans for changes in the energy mix, underlining its commitment to measures aimed at energy system transformation and planned investments in zero-emission energy sources. EIB will engage in an active dialogue with PGE on its company-wide decarbonisation plan and explore ways to further support it.

"Our annual generation of electricity from wind has increased from 0.1 TWh in 2011 to over 1 TWh, and we are not finished yet. With support from the EIB, we are close to completing our investment projects related to new onshore wind capacity.  Our ambition is to reach a 25% share in this country's generation of power from renewable energy sources in 2030. We want to achieve this objective thanks to, among other things, the implementation of successive green investment projects. Our first 1 GW wind farm on the Baltic coast is to be completed by 2026, and our offshore project is to provide further capacity of 1.5 GW by 2030. That year is also the planned deadline for making available up to 2.5 GW from photovoltaics,” said Henryk Baranowski, President of the Management Board of PGE in a press statement.

Windfair Staff
Poland, onshore, investment, loan, EIB, PGE, Baltic Sea, coast, energy transition, Europe, aim

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