Polsat Plus Group has secured financing of up to nearly 953 million PLN for its largest wind farm in Drzeżewo with a capacity of 139 MW. With all 63 turbines now assembled and technical commissioning underway, the project is nearing completion. Test production has already begun from 51 turbines, while full commercial launch is planned for Q4 this year.
Polsat Plus Group has obtained loans totaling up to PLN 952.9 million from a consortium of Polish financial institutions to finance or refinance the total investment cost of the Drzeżewo wind farm. The financing package includes a term loan in PLN up to a maximum of PLN 874 million, a revolving debt service reserve loan up to PLN 55.8 million, and a revolving VAT loan up to PLN 23.1 million.
– The obtained financing, granted by a consortium of reputable Polish banks, demonstrates the strong confidence financial institutions have in our Group and its current management and supervising team, and validates the effectiveness of our Strategy 2023+. It is also worth emphasizing that the project’s implementation received full support from Zygmunt Solorz and all of his children, as well as from the Board of TiVi Foundation – says Katarzyna Ostap-Tomann, Member of the Management Board for Finance and ESG of Cyfrowy Polsat, Vice President of the Management Board for Finance of Polkomtel, Polsat Plus Group. – Our strategy relies on multi-level financing, combining corporate and project debt. This approach enables us to execute renewable energy projects according to their construction schedules, independent of project loan availability at a given time. Once project loans are secured, they help refinance investments and reinforce our corporate financing. That is precisely the case with the Drzeżewo wind farm. The construction of our largest wind farm is progressing smoothly, with all 63 turbines now installed. The launch of installation testing, including the first electricity generation from the wind farm, took place back in May. Currently, technical commissioning is underway, with 51 turbines already in operation – she adds.
The loans bear interest at a variable rate combining the relevant WIBOR rate for each interest period with a specified margin. Repayment of the term loan will take place through quarterly installments of varying amounts, with the final repayment date set for no later than June 30, 2041—or within 15 years of the wind farm’s completion, whichever occurs first.
The financing consortium comprises leading Polish financial institutions Bank Gospodarstwa Krajowego (serving as both credit agent and security agent), Bank Polska Kasa Opieki S.A., and Powszechna Kasa Oszczędności Bank Polski S.A.
Polsat Plus Group is committed to advancing renewable energy in Poland, generating clean power from solar, wind, and biomass sources. The Group currently operates four wind farms with a combined installed capacity of 150 MW: Kazimierz Biskupi (17.5 MW), Miłosław (9.6 MW), Człuchów (72.6 MW), and Przyrów (50.4 MW). The addition of the Drzeżewo wind farm, with its substantial 139 MW capacity, will effectively double the Group’s wind energy portfolio.
In 2024, Polsat Plus Group’s own renewable energy assets delivered 1,016 GWh of green electricity—a 53% increase year-on-year—including 314 GWh from wind, 86 GWh from solar, and 616 GWh from biomass. In the first quarter of this year alone, total green energy production reached 278 GWh (105 GWh from wind, 16 GWh from solar, and 157 GWh from biomass), marking a 40% rise compared to the same period last year.
