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European bank to provide EUR80m for wind power generation in Poland

CTBR Staff Writer Published 09 November 2012

The European Bank for Reconstruction and Development (EBRD) will offer €80m in cumulative financial assistance for the development of wind power generation on North Poland.

The bank will offer €68.3m for the development of the Kukinia wind facility while €12.2m be provided for necessary hedging arrangements.

The 53MW Kukinia wind facility is being developed by an independent power producer RP Global with construction commencing in August 2012 and expected to be operational in early 2014.

Commenting on the developments EBRD Director for Poland, Lucyna Stanczak remarked that the agency is committed to the de-carbonization of the Polish economy.

"Renewable energy projects like these wind farms can gradually help the country reach the EU targets, as well as help the environment.

"The Kukinia wind farm financing brings the total EBRD investment in sustainable energy to €10 billion," said Stanczak.

The funding will also be employed for the upgrade of a 50 MW wind farm in Tychowo, developed by RP Global's holding company Megawatt OMS.