Tuesday, September 27, 2022

HomeFinancePolish TAURON obtains over 100 mln euros loan for clean energy projects

Polish TAURON obtains over 100 mln euros loan for clean energy projects

Polish energy holding company TAURON has obtained a 500 million Polish złoty (approximately 108 million euros) loan from Erste Group which will be directed fully to energy efficiency and clean energy projects including wind farms and industrial photovoltaic installations.

“Investments in the Group’s renewable generation capacity are priority tasks for the coming decade. The funds obtained just now will allow us to strengthen financial stability and rapidly implement our strategic goals,” said Krzysztof Surma, Vice President of TAURON Polska Energia for Finance. 

“The terms of the agreement represent also a clear signal for investors that the Group is steadfastly implementing its Green Turn, placing emphasis primarily upon the transition of its generation mix towards RES,”, added Mr Surma.

The loan will also fund the modernisation of street lighting using LED lamps, smart metering implementation and investments in clean transportation – primarily the development of electric vehicle charging infrastructure.

“This is one of the first publicised corporate financings in our region that is aligned with the EU Taxonomy and it has clear guidelines for the use of proceeds for green purposes”, emphasised Ingo Bleier, the Erste Group management board member responsible for Corporate Banking and Markets.

“As such, it provides further proof of Erste Group’s commitment to helping Central and Eastern Europe on its path to decarbonisation by supporting the region’s utilities and energy sector firms in their transition to sustainable energy sources and greater energy efficiency,” Mr Bleier added.

TAURON has been implementing the objectives of the Green Turn of TAURON for three years. The programme envisages investments in renewable energy sources (RES). The Group is planning to have 1,600 MW of installed capacity in renewable energy sources by 2025.

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