EnerCap-Backed Geo Renewables Raises Debt for Polish Wind Farms

Geo Renewables SA, backed by the private equity fund EnerCap Power Fund LP, received 168 million zloty ($55.4 million) of debt to finance two wind farms in southwest Poland.

Geo Renewables will borrow the money from Bank Ochrony Srodowishka SA to refinance part of the construction costs of two wind farms totaling 50 megawatts, the Warsaw-based company said today in an e-mailed statement. The projects started working in 2013.

Poland is seeking to produce 15 percent of its power from renewable sources by 2020 to meet European Union mandates.

To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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