The solar PV plant will be located in Milkowice, Poland, with a total installed capacity of 113MWp (87 MWac). It is the first project that Q-Energy builds in Poland and one of the largest solar PV plants in Poland to date.
The transaction is a pathfinder in the Polish renewable space, with a Euro-denominated PPA and a Euro-denominated financing. The € 96 m term facility was provided by PKO BP as sole lender.
The Project is currently being constructed and completion is expected to be achieved in December 2024. The energy generated by the solar farm will be sold to Amazon under a long-term, corporate power purchase agreement (CPPA). Amazon is the world's largest corporate purchaser of renewable energy and this CPPA will help Amazon on its path to power its operations with 100% renewable energy by 2025, five years ahead of its original target of 2030.
Astris acted as exclusive financial advisor to Q-Energy in the structuring and closing of the transaction. Since 2018, Astris has developed a significant expertise in the Polish renewable energy sector: we have closed 7 debt financing and M&A transactions in this market for an aggregate value of close to € 1 bn, and our teams are currently managing 3 active processes.