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Four Polish lenders form consortium to finance Polsat Plus Group’s wind farm project

PKO Bank Polski, along with three other banks, has entered into a consortium agreement with Great Wind, a subsidiary of the Polsat Plus Group, a media and entertainment company, to finance the development and construction of a wind power project, PKO said on November 20.

The PLN800mn (€184mn) agreement encompasses an investment loan, working capital credit for VAT coverage, and a DSRF loan to fund debt service reserve 

The 72.6 MW wind farm is under construction in the municipality of Człuchów in the Pomeranian Voivodeship.

Scheduled to become operational in the first half of 2024, the 33 wind turbines will generate electricity equivalent to the consumption of 110,000 households, according to Great Wind.

Poland is in the midst of an energy transformation aiming for a reduction in coal’s share in the energy mix from the current 70% to no more than 28% in 2040.

"This investment is another step towards increasing the share of green energy in the national energy mix," Andrzej Kopyrski, PKO’s vice president of the management board said in a statement.

The consortium also includes Bank Gospodarstwa Krajowego, mBank, and Santander Bank Polska.