French independent renewable power producer Qair has obtained financing for 129.5 MW of photovoltaic (PV) projects in Poland.
The company said today it has signed an agreement with Santander Bank Polska and PKO Bank Polski for a term loan amounting to PLN 335.3 million (USD 82.2m/EUR 75.2m).
The portfolio includes three large-scale solar farms in Golczewo, Rokietnica and Pakosc.
The solar generation will be sold to “identified offtakers” through long-term, corporate power purchase agreements (PPAs). If the contracted volume under PPAs increases, the funding may undergo further expansion. The projects will become operational in 2024.
Qair said that it has so far raised almost PLN 2 billion for wind and solar projects in Poland totalling over 500 MW. The company has been active in Poland since 2015. It has 308 MW of wind and solar in operation, 200 MW under construction and more than 2.5 GW in the early stages of development in the country.
(PLN 1 = USD 0.245/EUR 0.224)
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