AB Ignitis Grupė (Ignitis Group) has signed an agreement with the Northern Investment Bank (NIB) for the loan of up to €33.5 million for the implementation of the Pomerania wind farm project which is being developed in Poland.

The board of Ignitis Group approved the first-call guarantee agreement for this loan between the company and NIB.

Accordingly, the company’s subsidiary UAB Ignitis Renewables, which owns all the shares of Pomerania Wind Farm sp. z o.o. intends to sign an agreement with NIB for pledging 100 percent of the shares of Pomerania Wind Farm sp. z o.o. in favour of the lender.

The loan that is provided for the developing of the Pomerania wind farm project is planned to be repaid by December 31, 2035.

Pomerania wind farm is located in the Pomeranian Voivodship, Poland. The project is expected to be fully operational in the spring of 2021.

The wind park has an expected production capacity of 300 GWh of electricity annually.