One of Denmark’s largest pension funds AP Pension has concluded a loan agreement of EUR 65m with the Danish energy company Better Energy to finance the establishment of five solar parks in Poland. The solar parks, all connected to grid or close to, are expected to have a combined annual production of 237MW, equal to the electricity consumption of approx. 120,000 Polish households.
The Polish energy mix is currently dominated by fossil fuels, with more than 70% of the electricity generated from coal. The country’s need to reduce emissions and an increase in electricity prices have led to an exponential rise in demand for accessible and competitive renewable energy. Therefore, Poland is the ideal candidate for green investments.
AP Pension expects the agreement to deliver a solid return to the company’s customers. The investment is also a step towards AP Pension’s goal of investing green with 18% of its total assets in 2025 and 25% in 2030.
Accura advised AP Pension in connection with the financing of the solar parks.