EIB funds Poland power upgrade
By Sarah Ann McCay20 October 2012
The European Investment Bank (EIB) is to provide €230 million in financing to ENEA Capital Group for the modernisation and capacity increase of its electricity networks in Poland.
The funding will be used for works on the group’s electricity networks in the northwest of the country, managed by its regulated subsidiary ENEA Operator.
The EIB loan will help fund ENEA’s four-year investment programme in energy distribution. ENEA aims to carry out 40,000 distribution network upgrades a year, including the installation of new, enlarged and refurbished assets.
The ENEA programme also plans to connect 25,000 new users to the system per year, as well as improve the reliability of its electricity by 30% and help reduce energy losses.
The EIB has already provided €212 million in 2012 for the upgrading and extension of Polish electricity grids. Including the current operation, the EIB has granted loans to Poland’s energy sector worth more than €2 billion.