EU accelerates Poland’s inexperienced transition away from coal

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The European Bank for Reconstruction and Development (EBRD) mentioned on January 18 the financial institution is accelerating Poland’s transition from fossil fuels with the development of two new wind farms.
According to the financial institution, the EBRD is offering a mortgage of PLN 117 million (€26 million-equivalent) for a challenge within the north-east of the nation with a complete put in capability of 51.four MW: Mława (37.four MW), situated approximately 110 km northwest of Warsaw, and Grajweo (14 MW), 60 km southwest from Suwałki. The EBRD finance shall be complemented by a parallel mortgage from DNB.
The wind farms shall be constructed and operated by a three way partnership between the Taaleri SolarWind Fund II, a fund managed by Helsinki primarily based renewable fund supervisor and developer Taaleri Energia, and Masdar, the Abu Dhabi Future Energy Company. Both wind farms will profit from the Polish renewable vitality assist scheme (contract for distinction) for a portion of their respective outputs following their profitable bids within the December 2019 public sale.
Poland is dedicated to decreasing its dependency on producing vitality from coal with dangerous results on the setting and human well being. The new wind energy vegetation will assist cut back annual CO2 emissions by approximately 126,000 tonnes yearly and assist fulfil Poland’s contribution to the EU local weather and vitality targets for 2030, which embrace a reduce of at the very least 40 per cent in greenhouse fuel emissions.
EBRD Director for Energy EMEA Harry Boyd-Carpenter reiterated the financial institution’s dedication to assist the growth of inexperienced vitality in Poland. “We are delighted to join forces with our partners to use the opportunity to set the country on the path towards a new and sustainable energy future,” he mentioned.
Masdar Business Development & Investment, Clean Energy Director Ahmed Al Awadi mentioned his firm shares EBRD’s dedication to supporting inexperienced vitality growth and welcomes its assist on this thrilling new enterprise. “Masdar has been a catalyst for renewable energy and clean-tech innovation in more than 30 countries around the world, and we are dedicated to helping Poland achieve its climate and energy objectives,” he mentioned. “We also look forward further strengthening our partnership with Taaleri Energia through this venture,” he added.
Taaleri Energia Managing Director Kai Rintala mentioned her firm could be very glad with the fourth funding from the Taaleri SolarWind II fund. “This investment in Polish wind is underpinned by the increasing demand for clean energy and by a combination of the Contracts for Difference scheme and the availability of commercial offtake contracts in the Polish market. EBRD are already an investor in our fund and we are delighted that they are also providing financing for this project. EBRD’s local teams and renewable energy expertise in Central and Eastern Europe make them a valued partner for us in the region,” Rintala mentioned.
Since the beginning of operations in 1991, the EBRD has invested €10.eight billion in 453 tasks of all sectors of the economic system. Supporting the nation’s inexperienced transition with investments in renewable vitality and vitality effectivity stays one of many Bank’s priorities in Poland.