Polish banks provide $20M for first syndicated agreement in country’s biogas sector

In Poland, Bank Gospodarstwa Krajowego (BGK) and PKO Bank Polski have signed the first syndicated agreement in Poland in the biogas and biomethane sector. The banks have granted a loan to Neo Biofuel Energy, which will allocate it for the purchase and development of agricultural biogas plants. The agreement amounts to 74 million PLN and provides for the possibility of financing further projects.

Neo Bio Energy, through Neo Biofuel Energy, obtained nearly 74 million PLN from BGK and PKO Bank Polski. The funds will invest in the development of three biogas plants in the Lublin and Silesian voivodships with a total capacity of 3.2 MW. The company also plans to implement further investments. According to the agreement, the value of a syndicated loan may increase to 217 million PLN. It plans to allocate it for a total of seven projects with a generating capacity of 12 MW (at the time of purchase, 24 MW after expansion).