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The Warsaw Voice » Business » November 28, 2013
Business & Economy
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EBRD Cash for Wind Farms
November 28, 2013   
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The European Bank for reconstruction and Development (EBRD) is providing a long-term loan of up to zl.292 million to a group of three special-purpose companies owned by Polish Energy Partners S.A. (PEPSA) for the construction of three wind farms in Poland.

PEPSA is a leading Polish renewable energy developer and producer, listed on the Warsaw Stock Exchange and majority-owned by Kulczyk Investments.

The EBRD money will support the construction and operation of three wind farms in northern and northeastern Poland: Gawłowice with a capacity of 41.4 MW, Rajgród with 25.3 MW, and Skurpie with 36.8 MW. Total investment in the project is estimated to be zl.835 million. This includes zl.242.7 million from the EBRD for phase one (creating a capacity of 66.7 MW) which can, with the bank’s consent, be increased by an additional zl.49.3 million to be used for the third wind farm in phase two. The first phase of the project should be completed by the end of 2014 and the second by September 2016.

To date the EBRD has invested more than 6.3 billion euros in various sectors of the Polish economy.
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