Green Forum • 1 November, 2024 at 8:11 AM
Polish renewable energy company Grenevia has secured a significant loan from the Polish Development Fund to fuel its solar energy expansion. This funding will be used to construct 40 MW of solar PV parks.
Grenevia's subsidiary, Projekt-Solartechnik, will leverage the loan to finance half the cost of 11 solar farm projects. The remaining funds will come from the company's resources.
The loan carries a variable interest rate tied to WIBOR 6M, plus a margin, and matures in 2044. However, Grenevia has the option to repay the loan earlier.
This strategic move aligns with Grenevia's broader goal of transitioning from mining equipment to renewable energy solutions. The company aims to generate 70% of its revenue from non-coal sources by the end of 2024.
Projekt-Solartechnik, a seasoned player in the solar energy sector, brings nearly 15 years of experience in large-scale solar plant development and corporate PV solutions.
The Polish Development Fund, a state-owned entity, is dedicated to financing long-term, high-impact projects that contribute to the Polish economy.