EDP Renováveis executes project finance for 50 MW in Poland
EDP Renováveis, S.A. (“EDPR”) has executed a project finance structure agreement for two wind farms placed into operation in 2013 in Poland, with a total installed capacity of 50 MW.
The long-term contracted debt facility amounts to 168 million Zlotys (€40 million equivalent) and the transaction financial close is expected to occur until the end of 2013.
EDPR financing strategy is to contract long-term debt in local currency at competitive prices in order to mitigate the refinancing risk and to reduce the foreign exchange risk by having a natural hedge between revenues and costs.
This new agreement is EDPR’s sixth project finance in Eastern Europe (total of €485 million) providing strong evidence of the company’s competences in the development of top quality projects and in the establishment of solid financial structures.
EDP Renováveis, S.A.