Companies & Finance

EIB lends €250 mln to Polish power grid

The European Investment Bank will provide a €250 million loan to Polish company Energa Group to upgrade and extend its electricity distribution network.
By Staff reporter 6 September 2017 0 27471

The European Investment Bank will provide a €250 million ($298.2 million) loan to Polish company Energa Group to upgrade and extend its electricity distribution network in northern and central Poland, the European Commission said on Wednesday.

The loan is guaranteed by the European Fund for Strategic Investments under the Investment Plan for Europe, the so-called ‘Juncker Plan’.

“With this loan, Energa will extend its electricity networks, improve the security of supply, invest in renewable energy sources and develop smart meters,” the commission said.

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