EBRD to invest hundreds of millions in renewables in Poland

The European Bank for Reconstruction and Development (EBRD) plans to increase their support for the development of renewable energy projects in Poland next year, the bank’s regional director Grzegorz Zieliński told the Polish Press Agency (PAP).

"We want to invest EUR 650-700 mln (PLN 2.8 – 3.03 bn) annually in Poland this year, as well as in 2020, such a level is realistic," Mr Zieliński said.

The EBRD official added that the bank had already wrapped up the financing of one wind farm, and expressed hope that "we will manage to conclude one, or even two projects by the end of the year."

He also announced that the EBRD "has been working on a photovoltaic (PV) project," and declared that the signing of a deal with a foreign investor that is entering the Polish market should take place in late September or early October.

Mr Zieliński stated that the bank was still interested in financing Poland's Baltic offshore wind farms, but "the projects are not ready yet."