Budimex's Magnolia Energy secures PLN 45.3 million financing for a wind farm project in Poland, marking a significant step in advancing the country's renewable energy initiatives.
Information on the Target
Magnolia Energy, a special purpose entity established by Budimex, is focused on the development of a wind farm consisting of two turbines with a total capacity of up to 7 MW. The project aims to further advance Budimex's investments in renewable energy sources.
On January 26, 2023, a loan agreement worth PLN 45.3 million was signed to finance the construction and installation of the wind turbines as well as the establishment of an energy connection. This investment will be located in Greater Poland, near Gniezno, and is supported by a long-term Power Purchase Agreement (PPA).
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Industry Overview in Poland
Poland has been progressively shifting towards renewable energy in recent years as part of its broader commitment to transitioning to a low-emission ec
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invested in
Magnolia Energy
in 2023
in a Venture Debt deal
Disclosed details
Transaction Size: $11M