GoldenPeaks Capital, a green energy firm focusing on Central and Eastern Europe, has obtained €109 million in financing and finalized a power purchase agreement (PPA) with Google LLC to advance the construction of 177 megawatts of solar energy projects in Poland.
The financing was provided in separate transactions by German bank NORD/LB, as announced by the lender on Wednesday. The funds will be allocated to two portfolios of over 100 photovoltaic (PV) projects currently under development.
Of the total amount, €66 million will support the KAMI 2 portfolio, while €43 million will be allocated to the KAMI 3 bundle. Both portfolios are scheduled to become operational by the end of the year.
The solar plants are expected to generate enough electricity to meet the needs of over 12,000 homes annually. The electricity produced will be sold under a 10-year PPA with Google, which will assist the company in achieving its carbon reduction objectives.
