Financial close achieved for 135 MW solar PV project in Poland

ib vogt, BayernLB and Siemens Financial Services through Siemens Bank have closed the financing of a 135 MWp solar photovoltaic (PV) project currently under development in the Lublin voivodeship in southeast Poland.

The power plant is situated close to the towns of Zamo and Szczebrzeszyn. It covers 154 ha of land and will consist of more than 250,000 solar panels that produce up to 150 GWh per year enough to power 70,000 households, saving up to 100,000 tons of CO2 per year.

During the Financial close CMS Poland provided legal advice, Wind Prospect Polska provided technical advice whilst Marsh Poland advised on insurance and CRIDO on the financial model. ib vogt is responsible for the construction, operation and maintenance of the project.

The first section of the US$90.4 million solar farm is anticipated to commence commercial operation in September 2022, and the entire project will be operational by the start of 2023.