Gülermak closes PLN152.9m financing for 62.7MW Polish solar portfolio

The useful part

£30.4 million) project financing for its 62.7MW Project Vistula solar portfolio in Poland. is providing the financing, with all five projects currently under construction and Powidz set to enter commercial operations later this year. Brodnica comprises two solar assets with a combined capacity of 49MW, while Glinnik comprises two assets totalling 8.7MW and Powidz has a capacity of 5MW.

How it works

• "Project Vistula is another example of how we use this experience to support investments that bring new generation capacity to the Polish energy market." Nomad Electric is the EPC subcontractor for the...
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• The financial close is underpinned by a government-guaranteed Contract for Difference providing long-term contracted revenue alongside a multi-site route-to-market agreement with Hekla Energy covering...
• Gülermak Renewables has a portfolio in development exceeding 400MW across solar, wind and battery energy-storage assets.

What to take from it

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Details worth keeping

Brodnica 1 and 2, Glinnik 1 and 2, and Powidz. "Reaching financial close on Project Vistula is an important moment for Gülermak Renewables and a strong endorsement of the quality of these assets, our approach to project delivery and our long-term commitment to the Polish renewable energy market," said Gülermak Renewables chief executive Türkekul Dogan. "This is not simply financing for three projects.

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