The European Bank for Reconstruction and Development (EBRD) and French asset manager Eiffel Investment Group have extended a joint loan of €45 million (US$48.83 million) to Polish solar company PL-SUN for the construction of a 114.7MW solar portfolio in Poland.
The construction bridge financing loan, made up of equal contributions of €22.5 million from Eiffel Investment Group and EBRD, will finance the construction of 16 solar PV plants with a total installed capacity of 114.7MW across Poland. The solar PV plants’ annual solar generation capacity will reach 122.5GWh.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
Or continue reading this article for free
The portfolio will also be the first project co-financed under a new partnership between Eiffel Investment Group and the EBRD, aiming to accelerate the green transition across the EBRD’s markets. Both institutions signed a memorandum of understanding (MoU) in December 2023, outlining cooperation in exploring co-investment bridge financing to accelerate renewables deployment across central and eastern Europe.
PL-SUN is owned by Lithuanian investment company Atsinaujinančios Energetikos Investicijos (AEI), which currently operates a portfolio of about 250MW in Poland and Lithuania.
Prior to this portfolio, EBRD also guaranteed a €25 million loan for a 112.5MW Bulgarian PV project in February. The company said this was the first transaction for a greenfield renewable energy project to be backed by a risk-sharing framework.
EBRD also invested €100 million in SolarWind III in January, a fund raised by Finnish fund manager Taaleri Energia that aims to build 1.9GW of renewable capacity across Europe and the US.
