In H2 2019 we decided to substantially increase funding for renewable energy projects – from the previous PLN 500 million to PLN 1 billion.
We will finance investments implemented under the auction-based support scheme. In addition, we are interested in projects operating on market terms, e.g. based on power purchase agreements (PPA).
So far, a substantial part of the funding has been granted to the wind power sector, while the remaining portion has been used to support the development of solar energy. We wish to focus on financing projects operating within the government’s support system.
The key projects in 2019 included the signing of the biggest solar energy financing contract in Poland worth PLN 90 million. The money was used to start the construction of 34 solar power plants with a capacity of 33 MW covering an area of approx. 70 hectares. The project will generate approx. 35,000 MWh of energy a year, which is enough to power 15,000 homes, and will reduce CO2 emissions by 30,000 tons a year.
Our subsidiary mLeasing has also launched financing for solar panels. The solution is addressed to small and medium-sized enterprises allowing them to cut electricity bills by as much as 70% thanks to green energy. In line with the new regulations enterprises can be prosumers of electrical energy. Importantly, the initial financial contribution of an enterprise to a solar power investment is low, while lease instalments can be classified as tax deductible expenses.
Enterprises using solar panels can largely avoid the consequences of rising energy prices
The new solutions launched by mBank’s leasing company allow enterprises to finance photovoltaic systems worth up to PLN 250,000 with a maximum capacity of 50 kW. The maximum lease period is 6 years. The enterprise is required to make a financial contribution of 10% of the value of the investment. The decision to grant financing is issued by mLeasing within one business day.
Environmental awareness among consumers and businesses is rising. Therefore, increasingly more companies are choosing renewable energy sources for ethical or marketing reasons. Our new solutions offer them easy access to green energy. mBank Group is committed to protecting the environment. As part of this commitment, we stopped financing companies from the conventional energy industry and support the development of green energy. Our new leasing solutions reflect this strategy, helping other companies to become greener.