Qair has secured financing for 130MW solar projects sold under cPPAs

Qair, an independent player in the renewable energy sector, has announced a significant milestone in its journey. The company recently secured a bank loan to support its photovoltaic endeavors, totaling a robust 129.5 MW in capacity. This impressive figure includes three major installations located in Golczewo, Rokietnica, and Pakość. The loan arrangement, amounting to PLN 335.3 million and designated as a term loan, was successfully inked in partnership with a consortium comprised of Santander Bank Polska and PKO Bank Polski.

This credit agreement applies specifically to projects that have already been earmarked for beneficiaries through physical and financial cPPAs (corporate Power Purchase Agreements). Of these projects, the most substantial jewel in the portfolio is the 80 MW Golczewo power plant. There’s a potential for further expansion of the funding scope if the volume contracted under the cPPAs experiences growth. These projects are slated to transition into their operational phases by the year 2024.

Qair’s overarching strategy revolves around the establishment of an energy firm that exclusively oversees assets generating green energy. Central to this mission is the company’s dedication to aiding large enterprises in their quest for energy security. They achieve this through the facilitation of long-term cPPAs, thereby granting access to tailored green energy derived from a customized technological mix aligned with individual customer needs.

Krzysztof Wojtysiak, CEO of Qair Polska, expressed his contentment about continuing collaboration with Santander and PKO Bank Polski. He acknowledged the banks’ proactive approach in adapting to changes in the renewable energy market and supporting Qair’s progress. The strong demand for Qair’s energy offerings is evident from the fact that the majority of the currently financed project volume has already been contracted.

Andrzej Kopyrski, Vice-President of the Management Board of PKO Bank Polski, overseeing the Corporate and Corporate Banking Area, emphasized their commitment to sustainable development goals. By increasing financing for new green generation assets, they aim to contribute to meeting ESG criteria. He expressed his satisfaction in supporting Qair Polska’s photovoltaic initiatives that play a role in the energy transformation of the country.

Juan de Porras, Vice-President of the Management Board and Head of the Corporate and Investment Banking Division of Santander Bank Polska, echoed the sentiment of consistent support for renewable energy sources. Santander Bank Polska remains dedicated to financing pivotal aspects of Poland’s energy transformation. They are attuned to market trends, technological innovations, and the evolving needs of the economy.

With this latest development, Qair’s financing endeavors in the Polish market have totaled almost PLN 2.0 billion. This sum will underpin both wind and photovoltaic projects with a combined capacity exceeding 500 MW.