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Financing a portfolio of wind and photovoltaic projects – Santander Bank Polska and Qair sign agreements

Santander Bank Polska, BNP Paribas Bank Polska and PKO BP have signed agreements worth PLN 479 million (EUR 105 million) to finance the RES portfolio owned by Qair, an independent renewable energy producer. The financing will be used to build a portfolio of 4 wind projects and 29 photovoltaic projects with a total capacity of 106 MW, which have won RES auctions.

Santander Bank Polska acts as Credit Agent, Collateral Agent and Account Bank

The transaction represents one of the largest finance of hybrid portfolios in Poland. All projects involved in the transaction have won RES auctions and will sign 15-year differential contracts providing them with guaranteed electricity sales prices.

We are pleased to support Qair in this project together with BNP and PKO BP. Santander Bank Polska continues to implement its green agenda and is an important part of the green transformation of the Polish energy system.

comments Juan de Porras, Vice President and Head of Corporate and Investment Banking at Santander Bank Polska

The transaction to finance a further 106 MW of wind and photovoltaic projects is an important step in the development of Qair Polska. Such a complex process has only been possible thanks to the combination of the best international experience of its participants and its strong position on the local market. We are delighted to be part of this group to support the energy transition in Poland. The beneficiaries of this process extend far beyond the direct participants – above all, we are counting on the further development of Qair Polska to make a significant contribution to improving the quality of life in our country. Soon our operational portfolio will exceed 300 MW and we have ambitious plans for further investments. I would like to thank all the participants in the process, including financial institutions, advisors and also Qair employees in Poland.

said Krzysztof Wojtysiak, CEO of Qair Polska