CMS advises Bank Gospodarstwa Krajowego on PLN 475m KPO-backed financing for solar PV projects in Lower Silesia

CMS has advised Bank Gospodarstwa Krajowego (BGK) on loan agreements totalling over PLN 475m for the construction of two solar photovoltaic plants with a combined capacity exceeding 280MW, developed by companies from the AP OZE group in Lower Silesia.

The financing comes from the Energy Support Fund, backed by Poland's National Recovery and Resilience Plan (KPO), making this transaction one of the largest KPO-financed renewable energy investments in Poland to date.

The loans will finance two PV projects: PV Chocianowiec 2 with a capacity of at least 160MWp, and PV Szklary Dolne with a capacity of at least 120MW. Both projects offer potential for further expansion and integration with onshore wind farms and battery energy storage systems. Construction is expected to be completed in 2028.

The projects form part of the Apollo development cluster, which is being developed and prepared for construction in Lower Silesia by AP OZE and Ergy. With the first projects from the cluster already under construction (approximately 170MWp), the completion of the BGK-financed investments will position Apollo as one of the largest operational renewable energy clusters in Poland, exceeding 450MW of combined capacity.

The CMS team provided comprehensive legal support to the lender, including preparing and negotiating the finance documentation and coordinating the security and regulatory workstreams. 

The CMS team was led by Maciej Lorenz and supervised by Kuba Wieczorek (Banking & Finance).