In a significant development, the European Investment Bank (EIB) has given its approval for a substantial PLN 2 billion in financing aimed at the renovation and modernization of ENEA S.A.'s electricity distribution network in western Poland. This financing is being provided in two tranches, with the first tranche of PLN 1 billion having been signed in December 2023 and the second tranche, of an equivalent amount, finalized today.
The key objectives of the financed investments are to enhance the reliability and security of Poland's electricity supply, facilitate the seamless integration of renewable energy sources, and address the increasing demand spurred by population growth and the ongoing electrification of the economy. The direct beneficiary of this financial support is ENEA Operator Sp. z o.o., a company within the ENEA Group responsible for the operation of the distribution network.
Teresa Czerwińska, Vice-President of the EIB, emphasized the bank's unwavering commitment to advancing the REPowerEU objective. This initiative aims to reduce dependence on energy imports and steer the European energy sector towards sustainability. According to Czerwińska, the financial backing provided to ENEA is indispensable for the transformation and decarbonization of the Polish energy landscape, exerting a substantial influence on economic development.
The extensive project includes substantial work on medium- and low-voltage electricity distribution infrastructure. This encompasses the installation of new or upgraded overhead lines and underground cables, the connection of new customers and renewable energy sources, as well as the incorporation of smart meters.
All investments will be directed toward priority cohesion regions in western Poland, covering the provinces of Wielkopolskie, Zachodniopomorskie, Lubuskie, and Kujawsko-Pomorskie. The EIB prioritizes supporting investments in EU regions where per-capita income is relatively low, as this not only creates job opportunities but also contributes to sustainable local economic development and fosters the convergence of living standards.
Frimu Ghinea
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