Support for green transformation in Poland
Under the agreement, Inbank is committed to providing over PLN 700 million in new loans to individuals in Poland over the next three years - for the purchase and installation of solar panels, energy storage systems and heat pumps for households. The bank estimates that the projects implemented thanks to the cooperation with the European Investment Bank and European Investment Fund can generate up to 104 GWh of renewable energy per year. This will contribute to reducing CO2 emissions, improving air quality, supporting climate change mitigation, and also to achieving the RepowerEU goals - an EU program aimed at increasing the autonomy of European Union countries in the area of energy, by diversifying energy supplies and accelerating the green transformation.
Simplifying green financing for Polish households
Individuals who intend to install photovoltaic panels, energy storage or heat pumps in their households - who want to reduce both energy costs and carbon footprint - will be able to apply for the loan. The maximum amount of the loan will be PLN 150,000 - for a period of up to 10 years.
Inbank will offer interest rates at least 0.25% lower than its standard rates on loans supported by the EIB guarantee and will strive to provide increasingly competitive pricing for this important client group. This initiative ensures that the financing is not only more affordable but also a more attractive alternative to traditional cash loans.
What further sets Inbank's offering apart is the simplicity of the application process and the ease of obtaining financing. All formalities can be completed through Inbank's network of over 200 nationwide partners specializing in the distribution and installation of renewable energy solutions. Applications for loans will open in December this year.
Inbank in Poland – specialist in financing renewable energy sources and prosumers
It is worth mentioning that Inbank has so far granted consumer loans in Poland for over PLN 5 billion. The bank's current loan portfolio amounts to over PLN 2 billion, a significant part of which is for financing renewable energy projects implemented by individual clients – prosumers. So far, Inbank has granted over 80 thousand loans for the installation of solar panels, energy storage systems and heat pumps. Inbank has been supporting the development of renewable energy in the household segment with financing since 2019.
Details of the agreement and the structure of the transaction
The agreement between Inbank and the EIB Group is the first so-called synthetic securitization secured by PLN 635 million (EUR 147 million) in the form of loans for solar panels for individuals in Poland . The European Investment Bank Group has invested a total of PLN 625 million in two tranches of securitization - senior and mezzanine. The key elements of the structure of this transaction are as follows:
EIF offers protection on the senior, or the least risky tranche worth over PLN 549 million, half of which is counter-guaranteed by the EIB;
EIF also provides protection on more than PLN 76 million of the riskier mezzanine tranche, which is counter-guaranteed by the European Commission’s InvestEU programme;
The junior tranche, the most risky part of the structure, is worth around PLN 10 million and retained by Inbank.
