PAD-RES, a Polish developer which is majority-owned by Pan-European real estate investor Kajima Europe and private equity investment Griffin Capital Partners, has acquired debt financing to fund its 35 MW solar park project in Poland. The loan facility will be extended under a deal with the Polish subsidiaries of Spain’s Banco Santander and France’s BNP Paribas.
The recipient of the funding, the Genowefa photovoltaic (PV) project, is currently being installed near Kleczew, in the Konin County of the Greater Poland Voivodeship. The construction of the 45 hectares (111.2 acres) project began in April and is expected to be completed in the second quarter of 2023.
The developer has selected Electrum Concreo, a company based in Poland, as its general contractor and will benefit from state support secured in a domestic renewable energy auction. A power purchase agreement (PPA) has been secured by Norwegian renewable energy producer Statkraft A/S.
Country updates
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July 11, 2022
ERG starts operations of 24.5 MW Polish wind farm
ERG SpA, an Italian energy company, has commissioned its 24.5 MW Piotrkow wind farm in northern Poland. The facility is made up of seven N117 turbines, each with a 3.5 MW capacity, that were pr...
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July 07, 2022
Nordex to supply turbines for the 58.5 MW Mierzyn wind project in northwestern Poland
Tauron Polska Energia SA has contracted Nordex SE to supply turbines for the development of the 58.5 MW Mierzyn onshore wind project that will be located in northwestern Poland. The f...
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July 06, 2022
Siemens to supply turbines for 350 MW Offshore wind farm in Poland
RWE AG has contracted Siemens Gamesa Renewable Energy SA to supply turbines for the development of the 350 MW F.E.W. Baltic II offshore wind project in Poland.
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July 01, 2022
RWE starts construction of 48 MW wind farm in Znin
German energy developer RWE AG has started the construction of the 48 MW wind farm located in the town of Znin in the Kujawsko-Pomorskie province of Poland. The project will have 16 wind t...
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June 30, 2022
Vestas to power 73 MW wind project in Pomeranian Voivodeship
Vestas has secured a 73 MW order from PAK-Polska Czysta Energia for its Czluchow onshore wind project located in Northern Poland. A total of 33 V110-2.2 MW turbines with a hub height of 120m will be...
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