Renewable energy company Green Genius has secured financing to develop a 69MWp solar park portfolio in Poland.
The company secured financing from the Berenberg Green Energy Junior Debt Fund to build and operate the projects. The portfolio includes separate 1MWp, 5MWp or 8MWp PV plants spread across Poland.
According to the company, the Fund will provide financing of €22m euros, while the total investment is expected to reach up to €59m.
It has been informed that the project portfolio will have nearly 106,200 photovoltaic modules. The projects are expected to meet the power demand of around 24,200 households.
It has been reported that the portfolio will “operate on a mix of 10-year PPAs, four-year PPAs and the state-backed 15-year contract-for-difference support mechanism.”
“Besides the region's energy independence urgency, sustainability issues have not gone anywhere. Trusted financial partners have always had a major role in making big changes happen. Therefore, we're delighted to start a new partnership with Berenberg in our long and meaningful journey,” Rokas Bancevicius, CFO of Green Genius, was quoted in a report.
Meanwhile, Torsten Heidemann, Head of Infrastructure & Energy of Berenberg, remarked, “We are proud to support Green Genius on its strong growth path in Poland and look forward to finance future Green Genius projects across Europe. They have the know-how and resources to become a major player in the European renewable energy market.”
The portfolio is likely to be completed in 2023.
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