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EIB backs Polish wind farm with EUR 60 mln loan

The European Investment Bank (EIB) says it has signed a EUR 60 million (USD 67.9 mln) agreement with Lithuanian Ignitis Group for the construction and operation of a new onshore windfarm in Poland. 

File photo illustrative only, by Shaiith/Shutterstock.com

The EUR 60 mln will cover around 47% of the investment, the EU bank said. The wind park, which is located in the Pomeranian Voivodship, has an expected capacity of 300 gigawatt-hour (GWh) of electricity, potentially supplying around 75,000 households with clean energy on an annual basis.

Construction activities started in July 2019. The project, which will host 29 turbines, is expected to be operational in the spring of 2021, EIB says.