Best Sustainability Deal Award from the EMEA Finance Achievements Awards to Margonin, Poland
Margonin Wind Farm project has been recognized as the Best Sustainability Deal according to the evaluation made by the editorial team of ‘emeafinance’. Margonin’s project finance transaction was submitted by EDPR having Millennium Group acting as financial advisor (through Millennium Investment Banking) and Bank Millennium in poland as mandated lead arranger.
Margonin is poland’s largest fully commissioned onshore wind farm (120MW) located in northwest poland. It has scaled up poland’s wind installed capacity by 12%, helping the country to meet the european union green energy quotas. It is a groundbreaking deal in poland, not only due to its size, but mainly due to its innovative electricity off-take arrangements, which allow the sponsor to capture an eventual upside from the expected increase in the wholesale electricity prices.
Furthermore, the high quality of the project has been confirmed by a wide range of financing institutions, including the EIB (European Investment Bank) and the EBRD (European Bank for Reconstruction and Development) as well as several commercial banks, namely Bank Millennium S.A., BESI and Unicredit’s Pekao, which supported the project with each of them providing one third of the commercial banks’ funding.