, October 6, 2025
News Summary
A bank loan package of up to approximately PLN 176 million has been arranged to finance the construction of a 72-site portfolio of photovoltaic farms across Poland, with a combined connection capacity of about 75 MW. The financing was provided by PKO Bank Polski and supported by legal advisory from an international law firm, including ISDA hedging documentation and full legal due diligence. The funding covers construction-phase needs, permits and grid-connection milestones for a Danish developer. The deal reflects market shifts toward larger ground-mounted projects, curtailment risks, and growing interest in storage and hedging solutions.
Poland finance deal backs 72 solar farms totalling about 75 MW
A major financing package worth up to approximately PLN 176 million has been arranged to build a portfolio of 72 photovoltaic farms across Poland with a combined connection capacity of roughly 75 MW. The loan was granted by a large Polish bank and advised by an international law firm, with the funding aimed at construction of the full portfolio and associated project works.
Key deal details and legal work
The lender received full legal support on the transaction, covering preparation, negotiation and signing of the financing documents. Legal teams handled risk checks and prepared international hedging paperwork under ISDA rules as part of the work to manage price and market exposure. A legal due diligence review of the investment was also carried out before closing.
The borrower is a Danish investor and developer that focuses on photovoltaic farms and Battery Energy Storage System (BESS) projects in Europe. The firm has been active in developing solar installations in Poland for several years and has built significant PV capacity across the region.
Who was involved
The lender’s in-house financing team on the transaction included four named members who oversaw the bank’s side of the deal. The borrower’s in-house transaction team included four representatives responsible for the project and coordination with lenders and advisers.
On the legal adviser’s side, the transaction was supervised by the banking and finance partner, with counsel leading the matter and preparing the hedging documentation. Project-related aspects and the project due diligence were overseen by a partner who co-heads the energy and natural resources practice in the firm’s Warsaw office. Project work was led by counsel and supported by several associates and a junior associate, who provided day-to-day legal support on construction, grid connection and project contracts.
Why this matters in the Polish solar market
The deal comes as Poland’s solar market continues to grow and shift in structure. By the end of the first quarter of 2025, the country’s installed solar capacity neared 22 GW, with a reported figure of 21,994 MW. That represented an increase of around 637 MW added in the first quarter of the year.
Market composition is changing: smaller rooftop and micro-installations are making up a smaller share, while larger ground-mounted farms above 1 MW are growing faster. That move toward larger projects is reflected in the rising share of big solar farms and an increase in interest in hybrid projects that pair solar with storage or wind.
At the same time, grid and market pressures are emerging. Curtailment of solar output is being used more often as a regular balancing tool rather than as a rare emergency measure. This trend has pushed down profile prices for solar on the energy market and has slowed the pace of new investments. Analysts recommend pairing solar development with flexible consumers such as the heating sector, introducing dynamic tariffs for energy users, and investing in hybrid projects that include storage to improve system flexibility.
Project pipeline and regulatory context
There are thousands of projects at different stages of grid access and permitting. Recent counts show several thousand photovoltaic projects with issued grid connection conditions and a combined capacity measured in the tens of gigawatts. A portion of those projects have active connection agreements or valid building permits. Participation in current renewable energy auctions is limited to projects that already hold building permits, adding a near-term incentive to push projects through permitting.
Practical next steps and contacts
Work on the portfolio will focus on construction and grid connection for the 72 farms and integration of storage where relevant. The legal team prepared risk mitigation measures and hedging documentation to support market exposure management during construction and early operation.
For more information related to the legal advisory team and professional contacts, readers may refer to the adviser’s public site. Contact emails and direct phone numbers were provided by the adviser for follow-up queries on the transaction and legal services.
Context note
The financing supports the trend toward larger scale solar projects in Poland while highlighting the need for storage and system flexibility as the country’s PV capacity grows toward and beyond 22 GW. The transaction also illustrates how lenders and developers are using legal and financial tools, including ISDA hedging, to manage market and price risk on multi-site portfolios.
FAQ
What is the size and purpose of the financing?
The financing package is up to approximately PLN 176 million and is intended to fund construction of a portfolio of 72 photovoltaic farms across Poland, with a total connection capacity near 75 MW.
Who advised the lender and what legal work was done?
An international law firm provided comprehensive support for the lender, including preparing and negotiating financing documents, conducting legal due diligence, and drafting ISDA hedging documentation to manage market risk.
Who is the developer and what experience do they have?
The developer is a Danish investor that builds photovoltaic and battery storage projects around Europe. The firm has been active in Poland for several years and has developed significant PV capacity in the region.
How does the deal fit the wider Polish solar market?
The project is part of a move toward larger solar farms in Poland, where installed solar capacity reached nearly 22 GW by the end of Q1 2025. At the same time, the market is facing curtailment and price pressures that make integration with storage and flexible demand more important.
Who can I contact for more information?
Contact emails and phone numbers for the adviser’s team and the lender’s in-house financing team were provided as part of the recorded transaction details for professional follow-up.
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Key features at a glance
| Feature | Detail |
|---|---|
| Financing amount | Up to approx. PLN 176 million |
| Number of PV farms | 72 sites across Poland |
| Total connection capacity | About 75 MW |
| Borrower | Danish PV and BESS developer with active projects in Poland and Europe |
| Legal work | Financing documentation, ISDA hedging documentation, legal due diligence, project due diligence |
| Poland context | National solar capacity near 22 GW by end Q1 2025; trend toward larger farms and growth in curtailment use |
Deeper Dive: News & Info About This Topic
Additional Resources
- Renewables Now: PGE gets financing for 40 MW of solar projects in Poland
- Wikipedia: Solar power in Poland
- pv magazine: Poland added 637 MW of solar during Q1
- Google Search: Poland solar Q1 2025
- Renewables Now: ib vogt refinances 175 MWp solar park duo in Poland
- Google Scholar: IB Vogt Poland solar refinancing
- pv magazine: Poland deploys 4 GW of PV in 2024
- Encyclopedia Britannica: Renewable energy in Poland
- pv magazine: Poland allocates record budget for home solar & storage rebate scheme
- Google News: Poland home solar storage rebate 2025
Author: Construction NY News
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