Santander and EDPR signed a PLN 370mln (EUR 81mln) facilities agreement to build six onshore wind farms portfolio with a total nominal capacity of 149.4 MW.
Warsaw, 18 Jan 2022
Santander provides 50% of commercial tranche partially guaranteed by EKF (Denmark’s Export Credit Agency) with remaining 50% granted by CaixaBank. The portfolio has also received support from the European Investment Bank which, combined with commercial financing amounts to a total of PLN 655mln (EUR 144mln). This is one the biggest wind farms financing projects in Poland up to date. Santander is also acting as Agent, Security Agent, ECA Agent, Structuring Bank for ECA Facility, Account Bank and interest rate Hedge Provider.
The wind farms are distributed across Poland’s geography. Five of them are located in the North (Kozlowo, Krasin, Lichnowy, Chojnice and Piatkowo wind farms) and another one is located in the South (Bogoria wind farm). All projects are in a very advanced construction phase or already in operation. All of these wind farms are part of the sale agreement executed with Mirova, and disclosed to the market last August by EDPR.
This agreement represents a step forward on how Santander supports Poland in their transition towards a low-carbon economy. The bank has become a leader in renewable energy finance and advice owing to its efforts to seek solutions in environment, social and corporate governance (ESG) and other areas to help customers reach more sustainable models and a less polluting economy.
“We are happy to support our Clients investing in Renewable Energy Sources and accelerating the green transformation in Poland. Thanks to the international experience of Santander Group, we are able to implement very innovative solutions and provide tailor-made financing for EDPR together with EKF, CaixaBank and EIB. This is another important step in executing Santander’s responsible banking strategy.” - said Juan de Porras, Vice-President of the Management Board and head of Corporate & Investment Banking at Santander Bank Polska.