EIB Finances Poland's Second-Largest Onshore Wind Farm

On July 29, the European Investment Bank (EIB) committed more than 1.12 billion PLN (260 million euros) for the 190-MW Miejska Górka wind farm, operated by the Polish energy provider Tauron in western Poland. Once completed, the facility is set to become the country’s second-largest onshore wind farm.

Construction is already well underway. Tauron plans to bring the wind farm online in 2027. More than 50 wind turbines, each with a capacity of 3.6 MW and a hub height of over 130 meters, are expected to generate enough electricity to supply nearly 200,000 households.

The EIB loan covers more than half of the project’s total investment costs and has a term of 18 years. Miejska Górka will also be the largest onshore wind farm in Tauron’s portfolio and is a key component of the company’s strategy to achieve climate neutrality by 2040.

“The favorable financing terms, particularly the attractive interest rates and the 18-year term, are of great importance to us,” explained Krzysztof Surma, Deputy Chief Financial Officer of Tauron.

With this agreement, the EIB and Tauron have concluded their ninth joint financing agreement. It is also the second-largest loan the two partners have agreed upon to date. The largest loan to date, amounting to 2.8 billion PLN, was signed in 2021. Previous financing deals included, among other things, the expansion of power grids and hybrid bonds.

Tauron is Poland’s second-largest energy supplier, serving approximately six million customers. The company operates in about 18% of the country. Its renewable energy portfolio comprises an installed capacity of approximately 1,000 MW, including 16 onshore wind farms and six solar power plants.

According to the EIB, the project will primarily involve European suppliers and subcontractors. In addition, the wind farm is expected to promote employment and regional development, as well as further increase the share of renewable energy in Poland’s electricity mix.