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ENTERING INTO CREDIT AGREEMENTS FOR PHOTOVOLTAIC...

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ENTERING INTO CREDIT AGREEMENTS FOR PHOTOVOLTAIC PROJECT PORTFOLIOS “BUK” I AND “SULECHÓW III”

12/05/2021 18:45

Current report 20/2021

The Management Board of Polenergia S.A. (“Issuer”) hereby reports that on 12 May 2021:

1. the Issuer’s subsidiary, Polenergia Farma Wiatrowa Rudniki Sp. z o.o. (“Rudniki Wind Farm”) as the borrower (“Borrower 1)” and mBank S.A. as the lender (“Lender”) entered into a credit agreement (“Credit Agreement 1”).

Pursuant to Credit Agreement 1, the Lender shall grant to Rudniki Wind Farm an investment credit in the amount up to PLN 13 million to finance the construction of a group of photovoltaic farms (“Buk”) with a total capacity of 6.4 MW and VAT credit during the construction period up to PLN 3.2 million. In relation to Credit Agreement 1, Borrower 1 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.
Credit Agreement 1 foresees repayment of the investment credit not later than by 21 December 2037, whereas the VAT credit not later than by 31 January 2023. The interest on credit is equal to WIBOR increased by the Bank’s margin.

2. the Issuer’s subsidiary, Polenergia Farma Fotowoltaiczna 9 Sp. z o.o. (“Photovoltaic Farm 9”) as the borrower (“Borrower 2)” and mBank S.A. as the lender (“Lender”) entered into a credit agreement (“Credit Agreement 2”).Pursuant to Credit Agreement 2, the Lender shall grant to Photovoltaic Farm 9 credit in the amount up to PLN 18 million to re-finance the expenses for the construction of a group of photovoltaic farms “Sulechów III” with a total capacity of 9.8 MW.
In relation to Credit Agreement 2, Borrower 2 and the Issuer as the sponsor are required to enter into a standard security package applied in the project finance type transactions.
Credit Agreement 2 foresees repayment of credit not later than by 21 December 2037. Interest on the credit amounts to WIBOR increased by the Bank’s 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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