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10/05/2021 18:44

Current report 19/2021

The Management Board of Polenergia S.A. (“Issuer”) in reference to the Issuer’s current report No. 31/20219 of 22.10.2019 hereby reports that its subsidiary, Polenergia Farma Wiatrowa 17 Sp. z o.o. (“Company”), as part of performance of the construction project of subsequent photovoltaic farms, located in the Lubuskie Province in the Sulechów Commune (Project 2), having won the auction for renewable energy sources and having made the investment decision, entered into, on 10 May 2021, with ING Bank Śląski S.A. (“Bank”) an agreement amending the credit agreement (“Credit Agreement”).

Pursuant to the Credit Agreement, the Bank will grant an investment credit facility to the Company in the total amount up to PLN 21.5 million to finance the construction of a group of photovoltaic farms with the total capacity of 11.7 MW and the VAT credit during the construction period up to the amount of PLN 5.5 million. In relation to the Credit Agreement, the Company and the Issuer as the sponsor are required to enter into a standard security package applied in the project finance type transactions. Additionally, the Issuer as the sponsor is required to grant a security during the project construction.

The Credit Agreement foresees repayment of the investment credit not later than by June 2036, and the VAT credit not later than within half a year from completion of the project. The interest on credit is equal to WIBOR increased by the banks’ margin.

Legal basis: Art. 17(1) of Regulation of the European Parliament and Council (EU) No. 596/2014 on market abuse and repealing Directive 2003/6/EC of the European Parliament and Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Journal of Laws of the European Union L of 2014, No. 173, p. 1 as amended).

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