Grenevia, a unit of Poland's Grenevia and formerly known as Famur, has secured a loan of PLN 82.5 million (approximately USD 20 million or EUR 19 million) from the Polish Development Fund (PFR) to finance the construction of 40 MW of photovoltaic (PV) parks.
The funding will cover 50% of the costs associated with building solar farms managed by 11 project companies under Projekt-Solartechnik, which has recently shifted its focus toward renewable energy. The remaining project costs will be financed through the company's own resources.
The loan, which carries an interest rate linked to WIBOR 6M plus a margin, is set to mature on June 30, 2044, although early repayment options are available.
Grenevia, which rebranded from Famur in 2023 as part of its green transformation, aims to derive 70% of its revenues from non-coal sectors by the end of 2024. Projekt-Solartechnik, part of Grenevia since May 2021, has nearly 15 years of experience in the solar energy market, focusing on large-scale solar installations and PV solutions for various enterprises.
The PFR is dedicated to financing significant projects that promise long-term returns and are crucial to the Polish economy, having invested over PLN 12 billion in various initiatives by the end of the second quarter of 2024.
