JSC, an investment company for informed investors, has inked a deal to finance the construction of 68MW solar capacity in Poland.
The company signed an agreement worth €22 million with Bank Pekao.
It informed that out of the total capacity, around 40MW capacity will be installed this year. The remaining capacity will come into operation in 2024.
Kristina Kepsnytė-Bugaitienė, Head of Business Development at JSC, was quoted in a statement, “Despite the volatility in energy markets, in 2022, Poland was one of Europe’s frontiers in new solar PV capacity installations. The goal for 2023 is even more ambitious, and we are delighted to participate in this process.”
According to the company, Bank Pekao will “provide a complete package of services by acting as the Loan Agent, Security Agent, Project Account Bank, and participating in hedging transactions.”
The company shared that it has been working with Bank Pekao since last year. Earlier, the bank provided long-term financing for a 65.57MW solar park in the country.
So far, JSC operates 68.1MW of solar power plants in two countries, Poland and Lithuania. In addition, it also co-owns a 185.5MW wind power plant.
The company has further planned to invest more in solar and wind energy projects.