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8 min ago 2 min read
Warsaw-based developer Galia Green Power has signed a financing agreement worth PLN376m ($101m) with a consortium of PKO Bank Polski, Bank Gospodarstwa Krajowego (BGK) and mBank for biogas and biomethane projects in Poland.
The agreement was concluded for 18 years, and the first tranche will be launched in the current quarter.
The financing model enables flexible inclusion of subsequent projects meeting specified technological and environmental criteria. In future, the available financing pool may be increased by PLN225m ($60.8m), allowing further investments to be covered.
Marcin Orłowski, CEO of Galia Green Power, said securing the financing is an important step in implementing its investment plan and cooperation with three leading financial institutions confirms “the quality of the projects we have prepared and the growing importance of biomethane for the energy transition”.
Paweł Wójtowicz, Director of the Regional Project Finance Office at BGK, said the implementation of such investments also contributes to expanding know-how in financing decarbonisation projects, which, as scale and generation capacity grow, will play an increasingly important role in Poland’s energy transition.
BGK announced €25m ($28.4m) investment in the Swen Impact Fund for Transition 3 (Swift 3), managed by the French company Swen Capital Partners, .
Poland biogas developer Polska Grupa Biogazowa and energy trading firm Hekla Energy entered into a strategic agreement for the first large-scale sale and trading of electricity generated from biogas .
