EBRD grants loan for Banie Wind Farm

The European Bank for Reconstruction and Development (EBRD) is arranging a financing package for the Banie Wind Farm, a 50MW renewables project in north-western Poland, a press release read. The EBRD is providing a loan of up to PLN 150 million (€35 million equivalent) with additional funds of PLN 120 million (€28 million equivalent) to be provided by Alior Bank and BOS Bank. With the loan, the borrower will refinance part of the wind farm's construction costs that have been bridge-financed by the sponsor. The EBRD's loan is being provided under the Integrated Approach to Polish Renewables, a framework which aims to support private investments in renewable energy technology in order to boost Poland's efforts to reduce its dependence on fossil fuels. Banie Wind Farm is owned by Wiatromill, a subsidiary of Energix Renewable Energies Ltd., an independent Israeli renewable energy producer listed on the Tel Aviv Stock Exchange.