Poland: Qair secures financing for 130 MW of photovoltaic projects
Paris & Wroclaw, August 03 2023 – Independent renewable energy producer Qair announces the obtention of a bank loan for photovoltaic projects with a total capacity of 129.5 MW, including three large-scale farms in Golczewo, Rokietnica and Pakość.
The loan agreement was signed with a consortium of Santander Bank Polska and PKO Bank Polski with a value of PLN 335.3 million (term loan).
The energy generated by the solar farm will be sold to identified offtakers under long-term, corporate power purchase agreements (CPPAs). Funding may be subject to further expansion if the level of volume contracted under cPPAs increases.
The projects will enter the operational phase in 2024.
“We are pleased to continue our cooperation with Santander Bank and PKO Bank Polski, which will enable us to develop our portfolio of projects made for long-term cPPAs. We are extremely appreciative that representatives of both banks follow the changes in the renewable energy trading market with us and support our development” says Krzysztof Wojtysiak, CEO of Qair Polska.
With this fourth major financing on the Polish market, Qair has raised just under PLN 2.0 billion for wind and photovoltaic projects in Poland with a capacity of more than 500 MW.
Qair is an independent renewable electricity producer. It develops, finances, engineers and operates projects related to the production and storage of solar energy, onshore and offshore wind power, hydropower, waste-to-energy and green hydrogen.
With more than 1 GW of capacity in operation or under construction, the group’s 600 employees are developing a portfolio of 30 GW in 20 countries across Europe, Latin America and Africa. Our ambition is to become an independent leader of the renewable energy sector.
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About Qair in Poland
Qair has been operating on the Polish market since 2015 and is currently employing more than 90 specialists. The Company has a portfolio of wind and photovoltaic assets including: 308 MW of fully operational projects, 200 MW under construction, and more than 2.5 GW in the early stages of development. Qair Polska sells renewable energy to large businesses under long-term cPPAs.
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