July 2021 – Astris Finance is pleased to announce the c. € 25m debt closing for the 20.7MW Debnica Kaszubska windfarm project in Poland.

With 6 Vestas V126, 3.45 MW turbines and a total installed capacity of 20.7MW, the Debnica Kaszubska wind farm project (the “Project”) is the second wind farm fully developed by Uriel Renovables (“Uriel”), a company dedicated to the development, construction and operation of renewable energy projects in Europe and Latin America. The senior debt facilities were provided by commercial bank DNB and export credit agency EKF.

The Project has secured a 15-year Contract for Difference (CfD) through the 2019 renewable auction organized by Poland’s Energy Regulatory Office and it is expected to start production in Q1 2022. The Project also benefits from a short-term PPA with Axpo for part of its merchant production during the first 3 years of operations.

Astris acted as exclusive advisor to Uriel on the senior debt raising. Astris’s involvement with Uriel in Poland began with the renewable auctions of 2018 and 2019, when Astris advised Uriel on the design of a winning auction strategy. Since 2018, Astris has developed a significant expertise in the Polish renewable energy sector and has secured more than five financing and M&A mandates.