The European Investment Bank (EIB) announced on Friday (22 December) that it has signed a 1 billion zloty (231 million euros) financing agreement with Polish power company ENEA for the renovation and modernisation of the electricity distribution network in western Poland.
“Supporting the REPowerEU objective of reducing dependence on energy imports is of the utmost importance, and we are happy to strengthen the EIB’s partnership with ENEA by way of this agreement. This investment will not only accelerate the transformation and decarbonisation of the Polish energy sector but will also contribute to the creation of new jobs and strengthen economic development,” said Teresa Czerwińska, Vice-President of EIB.
The project encompasses mostly medium and low-voltage electricity distribution schemes, including new or refurbished overhead lines and underground cables, the connection of new customers and connection of renewables, as well as the installation of smart metres.
All the investments are to take place in western Poland and to be distributed within four Voivodships, namely Wielkopolskie, Zachodniopomorskie, Lubuskie and Kujawsko-Pomorskie.
The direct beneficiary of the financing will be ENEA Operator, a company in the ENEA Group responsible for operating the distribution network.