Join Craig Smith and Winston Norman on the Coffee with Craig Show for your daily dose of CRE news in the CEE region, brought to you by EuropaProperty.com.
EBRD Lends €100 Million to Boost Estonia’s Renewable Energy
The European Bank for Reconstruction and Development (EBRD) is providing a €100 million loan to Enefit Green, one of the Baltic region’s largest renewable energy companies, to accelerate Estonia’s renewable energy production. The funding will support the construction of the 255 MW Sopi-Tootsi wind park, which is expected to boost Estonia’s electricity generation capacity by up to 10%. This project is part of Estonia’s broader strategy to reduce reliance on fossil fuels and achieve climate neutrality by 2050.
Veiko Räim, Member of the Management Board and Chief Financial Officer at Enefit Green, said: “Our construction activities are advancing swiftly at several development sites, particularly the Sopi-Tootsi wind park, which is our largest project. With over half of the 38 turbines installed, the project remains on track, underscoring our commitment to advancing Estonia’s green transition and achieving our strategic goals.”
Poland Adds 135,000 sqm of Retail Space in Q2 2024
In Q2 2024, Poland saw the addition of 135,000 sqm of new retail space, with the majority coming from retail parks and shopping centre extensions. According to BNP Paribas Real Estate, the market is evolving with some older shopping centres being repurposed or demolished to make way for new developments. Experts believe the market will be further influenced by the proposed liberalization of Sunday shopping regulations.
“Shopping centres will not vanish, but will experience an intensification of a range of processes, from recommercialization, refurbishments and upgrades through to extensions, redevelopments and repurposing or demolition to reclaim land for new projects,” says Fabrice Paumelle, Head of Retail, BNP Paribas Real Estate Poland.
CTP Begins Construction of New Warehouse in Zabrze, Poland
CTP has commenced construction of a new 11,200 sqm manufacturing facility at its CTPark Zabrze complex in Poland, set for completion by November 2024. The building will feature innovative solutions like natural daylight and sustainable technologies, aligning with CTP’s commitment to green development. The new facility is part of a broader expansion in the region, which has proven to be an attractive location for investors, particularly in the automotive and machinery sectors.
“Zabrze has proved to be an excellent location for investors, which reinforces our conviction in the steps we have taken and that we will continue to grow in the region. The new building has been designed to meet the highest production standards, providing customer solutions to meet current, but also future market needs,” says Grzegorz Sikora, Business Developer at CTP Poland.
