, October 6, 2025
News Summary
A bank loan package of up to approximately PLN 176 million has been arranged to finance the construction of a 72-site portfolio of photovoltaic farms across Poland, with a combined connection capacity of about 75 MW. The financing was provided by PKO Bank Polski and supported by legal advisory from an international law firm, including ISDA hedging documentation and full legal due diligence. The funding covers construction-phase needs, permits and grid-connection milestones for a Danish developer. The deal reflects market shifts toward larger ground-mounted projects, curtailment risks, and growing interest in storage and hedging solutions.
Bank backs construction of 72 photovoltaic farms across Poland with nearly PLN 176 million financing
What happened: A major financing package of up to approximately PLN 176 million has been arranged to support the construction of a portfolio of 72 photovoltaic farms located across Poland. The combined connection capacity of the portfolio is about 75 MW. The financing was granted by a national bank and supported on the legal side by an international law firm advising the lender.
Key deal details
The loan is intended to cover development and construction costs for a set of ground-mounted solar projects spread over multiple locations. The projects form a single portfolio with a total connection capacity close to 75 MW. The borrower is a Danish investor and developer with an established track record in photovoltaic farms and battery energy storage system projects across Europe and several years of activity in Poland.
Legal and transaction work
Legal advisers to the lender provided comprehensive support, including preparation, negotiation and signing of the financing documentation. The legal team also prepared ISDA hedging documents to manage market and interest-rate risks and carried out full legal due diligence on the investment and project documents.
Transaction leadership on the legal side included partners and counsel responsible for banking and finance work, hedging documentation and project-related matters. The legal team also involved several associates and a junior associate who supported due diligence, contract drafting and closing tasks.
Teams involved
- Lender in-house financing team: four named members responsible for structuring and approving the loan.
- Borrower in-house transaction team: four named members representing the developer and investor.
- Legal advisers to lender: a multi-person team including partners, counsel, associates and junior staff covering banking, project and hedging work.
Why this matters now
The transaction comes as Poland’s solar sector has been growing rapidly. National figures show total installed solar capacity approached 22 GW by the end of March 2025, reflecting more than 600 MW of additions in the first quarter of 2025. The market is also shifting toward larger installations, with the share of solar farms above 1 MW rising noticeably over the quarter while the share of small micro-installations has declined.
At the same time, system operators and project developers are increasingly using curtailment as a routine balancing tool. This change, along with falling profile prices for solar on the energy market, is affecting project revenues and slowing investment growth in some cases. Industry observers flag the need for complementary measures such as pairing solar with flexible consumers in the heating sector, rolling out dynamic tariffs, and promoting hybrid projects that combine solar with wind and battery storage.
Project pipeline and permitting context
There is a large pipeline of projects with grid connection conditions issued, amounting to several thousand projects and total potential capacity in the tens of gigawatts. A subset of that pipeline has progressed to signed connection agreements and a smaller group has obtained building permits. Current participation rules for government renewable auctions restrict entry to projects that already hold building permits, increasing the importance of permit-ready projects for accessing public support.
Battery storage and hybrid potential
The borrower’s experience in both photovoltaic and battery energy storage projects is relevant to the current policy and market context. Storage can help manage curtailment, firm output, and increase the value of solar energy by shifting generation to times of higher demand or prices. Combining storage with solar is becoming a more common response to grid limitations and price volatility.
Practical next steps for the projects
- Finalise construction contracts and procurement of key equipment.
- Secure any outstanding local permits and connection agreements required for individual sites.
- Implement hedging and risk-management arrangements as prepared under the financing documentation.
- Coordinate commissioning schedules across the portfolio to optimise grid access and market participation.
Contacts and further information
For parties involved, contact details for legal advisers and the lending team have been provided in the transaction announcement. Those details include direct email addresses and office telephone numbers for lead advisers and partners who supervised the work. Readers seeking more formal legal guidance should consult a qualified adviser before taking action.
Frequently Asked Questions
What does the financing cover?
The financing is designed to cover the construction and development costs for a portfolio of 72 ground-mounted photovoltaic farms with total connection capacity of about 75 MW.
Who is the borrower?
The borrower is a Danish investor and developer active in developing photovoltaic and battery energy storage projects across Europe, including several initiatives in Poland.
What legal protections were set up?
The lender’s legal advisers prepared and negotiated financing agreements, ISDA hedging documentation, and conducted legal due diligence on project contracts and permits.
How does this fit into Poland’s power market?
Poland’s solar capacity has grown rapidly and is shifting toward larger plants. That growth, combined with increased use of curtailment and falling profile prices, is changing project economics and making storage, hybrid projects and flexible demand more important.
Do the projects have grid or permit status?
The portfolio is linked to sites with connection capacity; however, individual project permitting and connection agreements are typically progressed site by site. Participation in some public support mechanisms may require building permits.
{
“@context”: “https://schema.org”,
“@type”: “FAQPage”,
“mainEntity”: [
{
“@type”: “Question”,
“name”: “What does the financing cover?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The financing is designed to cover the construction and development costs for a portfolio of 72 ground-mounted photovoltaic farms with total connection capacity of about 75 MW.”
}
},
{
“@type”: “Question”,
“name”: “Who is the borrower?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The borrower is a Danish investor and developer active in developing photovoltaic and battery energy storage projects across Europe, including several initiatives in Poland.”
}
},
{
“@type”: “Question”,
“name”: “What legal protections were set up?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The lender’s legal advisers prepared and negotiated financing agreements, ISDA hedging documentation, and conducted legal due diligence on project contracts and permits.”
}
},
{
“@type”: “Question”,
“name”: “How does this fit into Poland’s power market?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “Poland’s solar capacity has grown rapidly and is shifting toward larger plants. That growth, combined with increased use of curtailment and falling profile prices, is changing project economics and making storage, hybrid projects and flexible demand more important.”
}
},
{
“@type”: “Question”,
“name”: “Do the projects have grid or permit status?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The portfolio is linked to sites with connection capacity; however, individual project permitting and connection agreements are typically progressed site by site. Participation in some public support mechanisms may require building permits.”
}
}
]
}
Key features at a glance
| Feature | Detail |
|---|---|
| Loan amount | Up to approximately PLN 176 million |
| Number of PV farms | 72 |
| Total connection capacity | About 75 MW |
| Borrower profile | Danish investor/developer with PV and BESS projects in Europe and experience in Poland |
| Lender legal support | Full transaction support including ISDA hedging docs and legal due diligence |
| National solar context | Installed capacity near 22 GW at end of Q1 2025; trend toward larger farms and increased curtailment |
This article is for informational purposes. Readers should consult professional advisers before acting on transaction, legal or investment matters described here.
Deeper Dive: News & Info About This Topic
Additional Resources
- Renewables Now: PGE gets financing for 40 MW of solar projects in Poland
- Wikipedia: Solar power in Poland
- pv magazine: Poland added 637 MW of solar during Q1
- Google Search: Poland solar Q1 2025
- Renewables Now: ib vogt refinances 175 MWp solar park duo in Poland
- Google Scholar: IB Vogt Poland solar refinancing
- pv magazine: Poland deploys 4 GW of PV in 2024
- Encyclopedia Britannica: Renewable energy in Poland
- pv magazine: Poland allocates record budget for home solar & storage rebate scheme
- Google News: Poland home solar storage rebate 2025
Author: Construction TX News
TEXAS STAFF WRITER The TEXAS STAFF WRITER represents the experienced team at constructiontxnews.com, your go-to source for actionable local news and information in Texas and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Texas Construction Expo, major infrastructure unveilings, and advancements in construction technology showcases. Our coverage extends to key organizations like the Associated General Contractors of Texas and the Texas Building Branch, plus leading businesses in construction and real estate that power the local economy such as Austin Commercial and CMiC Global. As part of the broader network, including constructioncanews.com, constructionnynews.com, and constructionflnews.com, we provide comprehensive, credible insights into the dynamic construction landscape across multiple states.
