SUNfarming Polska receives funding from mBank and ING Bank Śląski S.A.

The loan agreement signed with mBank in September 2020 related to a portfolio of PV projects with a total capacity of over 22 MW and amounts to PLN 90.65 million. And the loan agreement signed in October 2020 for the 26 MW portfolio with ING Bank Śląski S.A. amounts to PLN 116 million. Both loans are for 15 years, which is also the period of the FIT payments granted. Furthermore, VAT could also be co-financed as a bridge loan.

The capacity of the individual projects from the SUNfarming Polska portfolio is less than 1 MW. Each project has a 15-year guarantee on the sale of energy in the auction system carried out by the Energy Regulatory Authority (URE) in 2016, 2017 and 2018. Almost all projects have already been completed and are already feeding into the public grid. SUNfarming Polska's portfolio includes projects that can be found across the country, most of the projects are located in Łódzkie, Wielkopolskie, Podlaskie and in the north-eastern part of Śląskie Voivodeship. In total, over 2 GW of photovoltaics were installed across Poland. The Polish market for ground-mounted photovoltaic power plants is mainly based on the auction system.

“We are very pleased that we have been able to conclude both loan agreements and that the Polish financial market has opened up for solar parks. The signing of both loan agreements is the culmination of the hard work of the entire team as well as the close collaboration with our experienced parent company. A big thank you also to the law firm Roedl & Partner from Gdansk and Luther Rechtsanwälte from Hamburg, who supported us in both loan transactions "- explains project manager of SUNfarming Polska, Anna Pilarczyk-Naprawski.

(Foto from left to right: Piotr Budzyniak, Martin Tauschke, Anna Pilarczyk, SUNfarming Polska)