Green Bonds are another element of Polenergia obtaining financing for renewable energy projects. The decision to issue Bonds, as well as its conditions, including the size of the issue, the nominal value of the Bonds, the interest margin and the issue date will be determined and communicated by the Management Board based on the resolutions adopted in this regard, each time by way of separate issue resolutions, after prior approval consent by the Supervisory Board to the draft terms and conditions of the Bonds issue.
Green Bonds are a product that fits perfectly into our most important mission – building a zero-emission economy. Polenergia has been specializing in the development of renewable energy sources for years. There is no greener energy group on the Polish market today that operates on such a large scale. I am convinced that Polenergia’s Green Bonds will gain great trust of the investors.
The Bonds will be issued in series and will bear interest, and their total maximum nominal value has been set at PLN 1 billion. Debt securities issued in this formula will meet the criteria of the Green Bond Principles developed by the International Capital Market Association (ICMA).
The first issue of Green Bonds is scheduled for the end of this year, subject to appropriate conditions on the debt securities market. The detailed allocation of funds from the issue will be indicated each time in the terms of issue of a given series of Bonds issued under the Program. The interest rate on the Bonds will be fixed or variable, based on the reference rate indicated in the terms of issue of a given series, plus a margin.
Polenergia is the largest Polish private energy group with a portfolio of 13 wind farms and 5 photovoltaic farms. In Poland, Polenergia is developing renewable energy sources on land with a capacity of 2,100 MW and offshore wind farms in the Baltic Sea with a capacity of up to 3,000 MW in cooperation with the Norwegian Equinor.
In recent months, Polenergia launched the Grabowo Wind Farm with a capacity of 44 MW and the Strzelino Photovoltaic Farm with a capacity of 45 MWp, reaching the level of 574 MW of installed renewable energy capacity. Strzelino, located in Pomerania, is the largest photovoltaic farm in the history of the Group. Polenergia also signed contracts for the construction of further large-scale photovoltaic farms – Szprotawa 1 and 2 with a total capacity of 67 MWp. The Group will receive a loan of up to PLN 90 million for the construction of the Szprotawa 1 farm. A solar power plant with a capacity of 47 MWp is being built in the Lubusz Voivodeship.
The installation will consist of over 75,000 photovoltaic modules. Construction completion is planned for the first quarter of 2025. The loan was granted by a consortium of banks, mBank S.A. and Bank Pekao S.A.
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