The EBRD is advancing the green energy transition in Poland by supporting Qair’s portfolio of almost 200 MW of renewable energy with five loans totalling PLN 280 million, approximately EUR 63 million equivalent. BNP Paribas is also providing project finance lending to the portfolio on a parallel basis. The portfolio includes the construction under the Polish renewable energy auction support scheme (contract for difference) of 93 MW of new capacity – the three wind farms Udanin (50 MW), Parzeczew (9 MW) and Wrzesnia (9 MW) and 25 MW of solar photovoltaic – as well as the operation of wind farms Linowo (58 MW) and Rzepin (48 MW).

The EBRD loans will be provided to five Polish special-purpose vehicles that are ultimately owned by two experienced sponsors – the French renewable energy developer and operator Qair and the French infrastructure fund RGreen Invest. As a leader in the independent production of energy from renewable sources, for over 30 years Qair has been promoting energy production methods based on local natural assets (sun, wind, water, biomass) both grid-connected and decentralised off-grid. The Qair group is independent and is owned by the family of Jean-Marc Bouchet, president and founder.

Poland still generates 80 per cent of its energy from coal, with harmful effects on the environment and human health. The country has committed itself to the EU climate and energy targets for 2030, which include a reduction of at least 40 per cent in greenhouse gas emissions. Renewable energy has a key role to play in meeting that goal.

The EBRD started investing in Poland in 1991 and to date has provided €10.3 billion through 434 projects to all sectors of the economy. Supporting the country’s green transition with investments in renewable energy and energy efficiency remains one of the Bank’s priorities in Poland.