EDPR wins sustainability award for wind farm project in Poland

EDPR wins sustainability award for wind farm project in Poland

EDPR was recognized for having the “Best Sustainability Agreement” in 2010 during the EMEA Finance 4th Annual Achievement Awards in June.

The award was for the ambitious wind farm project EDPR is developing in Margonin, Poland, and the unique long-term financing agreement that it has put in place to fund it. Furthermore, the high quality of the project has been confirmed by a wide range of financing institutions, including the EIB (European Investment Bank) and teh EBRD ( European Bank for Reconstruction and Development).

Christopher Moore, CEO of EMEA Finance, said the deal is a “benchmark for the region.”

“It´s an opportunity to demonstrate that renewable energy can be financed, and that financing is usually the key component in putting a deal like this together,” he said.

The Margonin project is the first wind farm in Poland to be financed by long term investment. That got attention for this award, which values work done in emerging markets.

“The fact that we have organized a financial project in Poland at this stage, considering the market risk in Poland, is very important,” said Celma Pires, EDPR´s Head of Finance for Europe.

The award ceremony welcomed representatives of several corporations, banks, multilateral agencies and advisers from across the EMEA region to network and celebrate their efforts and successes from 2010.