SIG secures debt facility to fund 1.97GW of new Polish solar projects

June 11, 2024
Facebook
Twitter
LinkedIn
Reddit
Email
sun investment group
The 9.9MW Gardno solar farm is the Sun Investment Group’s largest operating project in Poland. Image: Sun Investment Group.

The Sun Investment Group (SIG), a European solar power developer, has secured a debt facility to support its development of 1.97GW of new solar capacity in Poland.

The portfolio consists largely of early-stage developments, with around 100MW of capacity at the ready-to-build stage, compared to 1.1GW of mid-stage developments and 750MW of early-stage projects.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

SIG currently has 35 PV projects in commercial operation in Poland, but the vast majority are of small scale, with the largest the 9.9MW Gardno project, one of six facilities with a capacity of greater than 1MW. The developer noted that its total development pipeline consists of 323 individual projects, with a capacity ranging from 1-120MW, and the latest funding could be used to help expand the scale of its projects.

The debt facility was entirely subscribed by an international debt fund, and SIG was aided by Deloitte Legal Poland and TAS Baltic as legal advisers, and German financial adviser Capcora, in completing the deal.

“We are pleased to have secured this debt facility with the assistance of Capcora. It will play a crucial role in advancing the realisation of our business plan in the coming years,” said says Deividas Varabauskas, SIG CEO. “[The] Polish market currently continues to be one of the most attractive arenas for investors and lenders in Europe, offering alternative funding solutions.”

There has been considerable investment in the renewable power space in recent months, with BNEF reporting, with Bloomberg New Energy Finance (BNEF) reporting that investors committed US$1.8 trillion to new renewable power projects in 2023. BNEF analyst Jenny Chase told PV Tech Premium earlier this year that the limiting factor for expanding solar deployment is often the quality of the projects themselves, with investors only keen to commit funds if “they’re good projects [and] the risk is worth the likely return.”

The Polish solar sector is growing at a considerable rate, with Polish research group the Institute for Renewable Energy (IEO) noting that Poland’s cumulative installed solar capacity reached 17GW at the end of 2023, close to double that of wind.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

October 23, 2025
Aviva Investors and Astatine have announced an €800 million (US$928 million) investment in renewable energy and decarbonisation solutions.
October 22, 2025
Recurrent Energy, Ampliform and Dimension Energy have announced new financing rounds this month for US solar projects.
October 22, 2025
Leeward Renewable Energy has started commercial operations at its 177MW Ridgely solar project in the US state of Tennessee.
October 22, 2025
Ingeteam’s Mauro Rivola discusses the rapidly growing appetite for co-located solar and storage in Southern Europe.
Premium
October 21, 2025
PV Tech Premium spoke with academic and industry experts about the rising tide of cybersecurity concerns in Europe's solar energy sector.
October 21, 2025
Cypress Creek Renewables has achieved financial close on its 75MW Sundance solar-plus-storage project in Elbert County, Colorado.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany