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Bank Millennium introduces a green loan for companies

07.02.2023

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Bank Millennium has provided companies with a loan to finance photovoltaic projects. The loan is available in two variants – up to 2 mln PLN, without own participation and additional collateral (100% of energy for own needs) and up to 20 mln PLN, with own participation from 10% to 20% and minimum self-consumption of energy at the level of 50%.

- Banks form the financial circulatory system, and have therefore been assigned the role of catalysts for green transformation in the economy. Therefore, in the coming years, the stream of financing will be quite intensively redirected towards pro-environmental projects and companies. We want to go one step further. Last year, we launched the EU Green Financing strategic project, under which we prepare product and process infrastructure to effectively support companies in their sustainable development, implementation of green investments and energy transformation. We want to offer not only green products, but also expert support in obtaining aid funds. This is due to our strategy, of which ESG strategy is an important part. We are planning further green products, we will also actively participate in the distribution of funds from EU programmes – says Antonio Pinto, Member of the Management Board of Bank Millennium.


Loan for photovoltaics - self-consumption

The loan can finance 100% of the net construction costs of micro and small photovoltaic installations with a capacity of up to 1 MWp, intended for the production of renewable energy entirely for own needs. The loan amount is a maximum of 2 mln PLN. The bank does not require own participation in this case. The loan period is a maximum of 7 years. The loan in this variant is granted without additional collateral.


Loan for photovoltaics - mix

It can finance from 80% to 90% of the total net construction costs of a photovoltaic installation with the production of renewable energy for sale and own needs, but with a minimum level of 50% self-consumption. If a special purpose vehicle is established, which will deal with the production of energy from the financed installation, the sale of this energy to the company's shareholders or to a group of related enterprises is treated as own consumption. The investment may also include the purchase and installation of an energy storage facility with a capacity of up to and including 10 MW. The maximum amount in this loan is even 20 mln PLN (not more than 5,000 PLN per 1kWp of the projected photovoltaic installation and 7,000 PLN for 1kW of energy storage capacity). The maximum loan period is 10 years. This loan variant requires collateral.

Details of the offer are available from Bank Millennium corporate banking Relationship Managers.

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