15 Oct 2020

NIB finances Pomerania onshore wind farm in Poland

NIB has signed a 16-years loan agreement with Pomerania Wind Farm sp. z o.o. for an onshore wind farm in Pomeranian Voivodeship, about 50 kilometres south of the Bay of Gdansk, Poland.

The PLN 150 million (EUR 33.05 million) loan will co-finance the design, construction and operation of the wind farm, which consists of 29 wind turbines, each with nominal capacities ranging from 3.0 MW to 3.3 MW. The installed capacity of the Pomerania wind park is 94 MW. The usage of the turbines has been limited in this project in order to minimise noise and other impacts on residents, as well to protect birds and bats.

The project includes the electrical equipment, such as internal array cabling and transformers, as well as the building of foundations for the turbines, ancillary buildings and access roads.

The wind farm will supply its first commercial power in 2021.

“Wind power is one of the most sustainable sources of electricity. This project will add renewable energy to the grid and indirectly contribute to lower CO2 emissions by crowding out electricity generated with fossil fuels”, says Henrik Normann, President & CEO of Nordic Investment Bank.

The Pomerania Wind Farm sp. z o.o. is a special purpose vehicle (SPV) established for the construction and operation of the Pomerania Wind Farm project. The shareholder of the SPV is UAB Ignitis renewables, which is controlled by international energy company Ignitis Group.

“Pomerania Wind Farm will contribute to a faster decarbonisation of the Poland energy system and will significantly expand the Green Generation portfolio managed by Ignitis Group. This project will also strengthen our position in the rapidly developing renewable energy market of our neighbouring country", says Darius Maikštėnas, Chairman of the Board and CEO of Ignitis Group.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Mr Martin Lundström, Project & Structured Finance, at +358 10 618 0426, martin.lundström@nib.int

Mr Arild Moen, Senior Communications Officer, at +358 10 618 0496, arild.moen@nib.int