Sunfarming secures €17 million for new photovoltaic projects in Poland
Post date: 25/11/2019 - 14:03
German PV developer Sunfarming GmbH from Erkner near Berlin has secured two new interim financing lines. The funds will be used to expand the existing portfolio in Poland to a total output of 60 MW in the short term. €12 million ($13.2 million) will finance the construction of 17 MW of new photovoltaic projects, which have won a bid from the 2018 auction and are to be built and connected to the grid by April 2020. An existing financing line was increased from €20 million to €25 million (from $22 million to $27 million). In the next two years, the Polish portfolio should reach at least 150 MW, according to Martin Tauschke, managing director of the Sunfarming Group.
The Polish government had extended the deadline for the completion of projects from the 2018 auction until November 2020. A further PV auction with a volume of 750 MW will take place in December 2019.