{"id":154989,"date":"2023-01-27T08:13:55","date_gmt":"2023-01-27T08:13:55","guid":{"rendered":"https:\/\/bdm-stg.mda.pl\/informacje-prasowe\/bgk-granted-budimex-a-loan-of-pln-45-million-for-the-construction-of-a-wind-farm\/"},"modified":"2024-06-07T11:21:25","modified_gmt":"2024-06-07T11:21:25","slug":"bgk-granted-budimex-a-loan-of-pln-45-million-for-the-construction-of-a-wind-farm","status":"publish","type":"press","link":"https:\/\/bdm-stg.mda.pl\/en\/press\/bgk-granted-budimex-a-loan-of-pln-45-million-for-the-construction-of-a-wind-farm\/","title":{"rendered":"BGK granted Budimex a loan of PLN 45 million for the construction of a wind farm"},"content":{"rendered":"\n
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27.01.2023<\/p>\n

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BGK granted Budimex a\u00a0loan of PLN 45 million for the construction of a\u00a0wind farm<\/h2>\n

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Magnolia Energy, Budimex\u2019s special purpose vehicle established to\u00a0implement the project of building a\u00a0wind farm consisting of 2 turbines with a\u00a0total capacity of up to\u00a07 MW, has obtained financing from Bank Gospodarstwa Krajowego in\u00a0the project finance formula. This is the next stage in\u00a0the development of the Budimex Group\u2019s investments in\u00a0renewable energy sources.<\/strong><\/p>\n

January 26, 2023 A\u00a0loan agreement worth PLN 45.3 million was concluded, which will be\u00a0repaid by\u00a0the project in\u00a0the next 15 years of the farm\u2019s operation. The loan will enable the financing of the construction and installation of two wind turbines and the construction of a\u00a0power connection. The investment will be\u00a0built in\u00a0Wielkopolska, near Gniezno.<\/p>\n

The financing is based on\u00a0a\u00a0long-term power purchase agreement (PPA).<\/p>\n

Budimex cooperates with Bank Gospodarstwa Krajowego on\u00a0a\u00a0daily basis in\u00a0our core business and we\u00a0are glad that we\u00a0can extend this cooperation to\u00a0the RES<\/em>\u00a0 area\u2013 says Zbigniew Kamecki \u2013 Director of the Budimex Financial Management Office<\/p>\n

In\u00a02021, we\u00a0decided to\u00a0take advantage of our investment opportunities and look for renewable projects on\u00a0a\u00a0utility scale. At\u00a0the beginning of 2022, we\u00a0acquired the first RTB (Ready-To-Build) onshore wind project called Magnolia in\u00a0Wielkopolska. By\u00a0the end of 2022, we\u00a0have expanded our portfolio with another project: a\u00a0photovoltaic farm<\/em>\u00a0\u2013 says\u00a0 Adam Skwarski \u2013 Investment and\u00a0Development Director at\u00a0Budimex and at\u00a0the same time Member of the Management Board of Magnolia Energy.<\/p>\n

Budimex started investing in\u00a0RES in\u00a02022 \u2013 as\u00a0one of the elements of diversification of the Budimex Group\u2019s operations, alongside foreign markets and electromobility.<\/p>\n

Our main goal this year is to\u00a0complete the construction of Magnolia (in\u00a0the first half of this year) and to\u00a0complete the second project \u2013 a\u00a0photovoltaic farm \u2013 by\u00a0the end of the year.<\/em><\/p>\n

The organization of this financing was carried out with the support of the Norton Rose Fulbright law firm.<\/p>\n

BGK supports the financing of renewable energy sources<\/strong><\/p>\n

Financing wind energy is in\u00a0line with the strategy of Bank Gospodarstwa Krajowego, developed for 2021-2025. One of its elements is to\u00a0support the development of a\u00a0low-carbon economy. The bank implements this activity m.in.\u00a0by\u00a0providing financing for investments in\u00a0renewable energy sources. Energy generation based on\u00a0zero- and low-emission sources is also one of the objectives of the Strategic Security programme at\u00a0BGK. The bank\u2019s commitment to\u00a0sustainable development has recently been recognised by\u00a0Sustainable Fitch, which awarded BGK a\u00a0rating of \u201c2\u201d in\u00a0its ESG rating (on\u00a0a\u00a0scale of 1-5, where \u201c1\u201d means the best).<\/p>\n

\u201cThe development of onshore wind energy means an acceleration of the Polish energy transition and\u00a0a\u00a0number of benefits for the economy \u2013 GDP growth, additional revenues to\u00a0local governments, development of supply chains and new jobs. Financing such projects is in\u00a0line with BGK\u2019s mission to\u00a0support the sustainable, socio-economic development of Poland. Especially in\u00a0the current geopolitical situation, increasing the energy security of our country by\u00a0building zero-emission energy sources m.in.\u00a0in\u00a0wind technology, is very important. Our role, as\u00a0a\u00a0Polish development bank, is to\u00a0support the financing of Polish companies, thanks to\u00a0which the share of RES in\u00a0our country\u2019s energy mix will increase\u201d<\/em>\u00a0\u2013 said Dariusz Szwed, Member of the Management Board of Bank Gospodarstwa Krajowego.<\/p>\n

Last year, wind farms accounted for 13% of the total installed capacity in\u00a0the entire national power system, while taking into account only renewable energy sources, it was 36%. Electricity generated by\u00a0modern wind turbines has the lowest unit cost of generation (LCOE).<\/p><\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/section>\n

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Magnolia Energy, Budimex’s special purpose vehicle established to implement the project of building a wind farm consisting of 2 turbines with a total capacity of up to 7 MW, has obtained financing from Bank Gospodarstwa Krajowego in the project finance formula. …<\/p>\n","protected":false},"featured_media":147147,"parent":0,"template":"","press_type":[537,772,803],"acf":[],"yoast_head":"\nBGK granted Budimex a loan of PLN 45 million for the construction of a wind farm - Budimex<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BGK granted Budimex a loan of PLN 45 million for the construction of a wind farm - Budimex\" \/>\n<meta property=\"og:description\" content=\"Magnolia Energy, Budimex's special purpose vehicle established to implement the project of building a wind farm consisting of 2 turbines with a total capacity of up to 7 MW, has obtained financing from Bank Gospodarstwa Krajowego in the project finance formula. ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bdm-stg.mda.pl\/en\/press\/bgk-granted-budimex-a-loan-of-pln-45-million-for-the-construction-of-a-wind-farm\/\" \/>\n<meta property=\"og:site_name\" content=\"Budimex\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-07T11:21:25+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/bdm-stg.mda.pl\/en\/press\/bgk-granted-budimex-a-loan-of-pln-45-million-for-the-construction-of-a-wind-farm\/\",\"url\":\"https:\/\/bdm-stg.mda.pl\/en\/press\/bgk-granted-budimex-a-loan-of-pln-45-million-for-the-construction-of-a-wind-farm\/\",\"name\":\"BGK granted Budimex a loan of PLN 45 million for the construction of a wind farm - 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