EIB funds Poland power plant

The European Investment Bank (EIB) is to provide PLN566 million (€140 million) in financing to Poland’s Elektrocieplownia Stalowa Wola for the construction of a combined cycle gas turbine (CCGT) power station.

The new power plant will have an electric capacity of 450MW and heating capacity of 240MW. Being built on an existing industrial site within the boundaries of the Stalowa Wola power plant in southeastern Poland, it will provide electricity to the grid and heat to neighbouring towns as well as industrial off-takers.

Sustainability is key for the project. The plant will reach an efficiency level significantly above the industry average, thanks to its gas-fired combined cycle technology and the simultaneous generation of useful heat. It will also help to reduce coal consumption at the Stalowa Wola power plant by 100,000 tonnes per year.

According to EIB, the new power station will also improve the security of the internal supply of electricity in Poland and increase competition in the Polish electricity market. Thanks to the use of gas, it also will foster fuel diversification in the Polish power sector.

The new plant is expected to be operational in the second half of 2015.