The European Investment Bank (EIB) has approved a $437.3 million loan to Energa, an electricity supplier in Poland, to enhance and expand the country's power grid. The funds will support Energa Operator, a subsidiary of Orlen, in upgrading over 4,600km of existing grid infrastructure and building 2,300km of new power lines to accommodate 25,000 new customers. Additionally, Energa Operator will modernize its metering systems to further enhance grid operations.

Magdalena BartoÅ›, Vice President of the Management Board at Orlen, noted that this financing marks a significant step in their growth strategy. The funds will be used for investments in the electricity distribution network, including the development of new power lines and the connection of prosumers with their renewable energy sources.

The EIB funding is part of a larger effort to expand Poland's national grid. By 2035, Energa Operator plans to add 11,000km of new power lines, 7,000km of underground cables, and upgrade 10,000km of existing infrastructure. This will allow the connection of 350,000 new customers and integration of 9GW of renewable energy sources, contributing to a 16% increase in the installed grid capacity and improving energy storage capabilities to stabilize the power system.

Teresa Czerwinska, EIB Vice President, emphasized the strategic importance of this investment for the sustainable growth of Poland's economy and energy security, supporting the EU's green transition.

This is the final tranche of a total $906.8 million loan dedicated to upgrades in northern and central Poland's power grid.

Source: smart-energy.com