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Commerzbank's Polish unit to offer financing for clean energy projects

Poland-based mBank SA plans to increase its financing of ecological initiatives with a new lending policy for wind farms and solar projects.

The bank will initially earmark about 500 million Polish zlotys to finance initiatives carried out under the Polish support scheme for renewable energy sources, and priority will be given to projects whose owners and operators have experience in the renewable energy sector.

Some of the projects will be carried out jointly with mBank's parent Commerzbank AG, which has significant experience in this area in Europe, the Polish lender said Dec. 13.

MBank is not the only Polish lender involved in supporting ecological initiatives, Parkiet said Dec. 13, noting that ING Groep NV unit ING Bank Śląski SA, Bank Ochrony Środowiska SA, Alior Bank SA and DNB Bank Polska SA have also implemented policies supporting renewable energy solutions.

As of Dec. 13, US$1 was equivalent to 3.78 Polish zlotys.