Polish Energa secures €250 million investment from EU

EIB to provide €250 million loan to Polish Energa Group

The European Investment Bank (EIB) will provide a €250 million loan to the Polish company Energa Group for the upgrade and the extension of its electricity distribution network in northern and central Poland. The loan is guaranteed by the European Fund for Strategic Investments (EFSI) under the Investment Plan for Europe (also known as the Juncker Plan).

According to Energa, the primary goal will be to boost security of electricity supply, improve service quality and bring down network losses. Furthermore, the company also plans to invest in smart meters and network automatization and also in new connections in the distribution network.

According to the company’s website, Energa’s core activities include the distribution, generation and sales of electricity and heat. The Group supplies electricity to more than 2.9 million customers (households and industry) and its distribution grid entails over 184,000 km of power lines. In 2015, total installed capacity stood at 1.4 GW of which around 40 % was accounted for by renewable energy sources.

Source: http://europa.eu/rapid/press-release_MEX-17-3123_en.htm

 

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