PAD RES Group, the Polish renewables company majority-owned by a joint venture between Kajima Partnerships and Griffin Capital Partners, has secured PLN 192.5 million (€44 million) in long-term financing from UniCredit. The funds will be used to finance the construction and subsequent operation of three photovoltaic farms with a total installed capacity of 133 MW: Krapkowice, Strzelce Opolskie and Gromadka. The transaction further strengthens PAD RES Group’s solid financial position and confirms the confidence of international financial institutions in its renewable energy project portfolio.
The long-term financing includes funds required to complete the construction phase of the photovoltaic farms and support their subsequent operations. The financing structure has been tailored to the nature of infrastructure assets and the long-term operating horizon of renewable energy projects.
The portfolio covered by the financing comprises the Krapkowice photovoltaic farm (90 MW) and the Strzelce Opolskie photovoltaic farm (18 MW), both located in the Opolskie Voivodeship, as well as the Gromadka photovoltaic farm (25 MW), located in the Lower Silesian Voivodeship. The projects cover a total area of approximately 142 hectares. The combined annual electricity generation of the three installations is expected to reach approximately 140 GWh, corresponding to the estimated annual electricity demand of around 47,000 households.
PAD RES acquired the Krapkowice, Strzelce Opolskie and Gromadka portfolio from German developers operating in Poland as Gospodarka Solarna. The company took over the projects at an early stage and has since led their development and delivery. All three solar farms are currently under way and will be retained in PAD RES Group’s portfolio once complete.
In September 2021, a joint venture formed by Kajima Partnerships and Griffin Capital Partners acquired a majority stake in PAD RES, Poland’s leading clean energy developer. Since then, the company has been systematically expanding its portfolio, building a pipeline of over 3.0 GW of renewable projects in Poland, which span more than 2,000 hectares under development.
Michał Pryca, Chief Financial Officer of PAD RES, said: “Securing long-term financing for another portfolio of photovoltaic projects is an important step in the implementation of PAD RES Group’s growth strategy. The transaction with UniCredit confirms the financial and investment attractiveness of our projects, the quality of their preparation and the confidence that our financial partners place in PAD RES Group. We would like to thank the UniCredit team for their professional cooperation and partnership approach throughout the financing structuring process.”
Chris Gill, Managing Director of Kajima Partnerships, said: “The continued support from UniCredit is a strong endorsement of PAD RES and the quality of its renewable energy portfolio. Access to long-term financing is critical to scaling renewable energy infrastructure, and this transaction strengthens PAD RES’s ability to advance its pipeline and bring additional clean power generation into operation. It is another positive step towards a broader ambition to grow a significant renewable energy platform in Poland and the UK.”
This is another financing transaction concluded between PAD RES Group and UniCredit in 2026, highlighting the consistently developing cooperation between the two parties in the area of renewable energy financing. In early September, UniCredit provided the Group with PLN 83.7 million (€19.5 million) in financing for photovoltaic farms in Biesiekierz and Mikołajki Pomorskie, with a combined capacity of 51 MW. In January, UniCredit, together with Santander Bank Polska and Bank Millennium, provided PAD RES Group with financing totalling PLN 637 million (approx. €151.3 million) for a portfolio comprising nine photovoltaic farms.
Piotr Wróbel, Executive Director, Corporate and Investment Banking at UniCredit in Poland, said: “Financing energy investments, including supporting the development of new energy generation sources, is one of the key pillars of UniCredit’s strategy. We are pleased to once again work with PAD RES Group this year, providing long-term financing for a portfolio of photovoltaic farms with a total capacity of 133 MW. Our latest transaction further strengthens our relationship and confirms our confidence in the investment potential of PAD RES and the professionalism of its team. We would like to thank the PAD RES team for the excellent cooperation throughout the structuring of this financing.”
