European Bank Funds Poland Renewables, Hydro Project Refurbishment

The European Investment Bank (EIB) has agreed to lend up to 295 million zlotys (US$93.3 million) to Poland energy company Tauron Polska Energia S.A. for renewable energy investments including refurbishment of several Tauron Group hydroelectric projects.

With EIB support, Tauron Group is to expand its electricity distribution networks by about 11,000 new connections, upgrade existing equipment, and start a smart metering pilot program. Additionally, EIB is supporting modernization and refurbishment of several Tauron Group hydropower projects to increase their efficiency and generating capacity.

Including the current financing, EIB has made four loans to Tauron totaling 1.7 billion zlotys (US$538 million) to support investment in the Polish energy sector.

Tauron Ekoenergia operates 35 hydroelectric projects totaling 125.739 MW in three provinces of Poland. Among its projects are 2.422-MW Bobrowice 1, 312-kW Bobrowice 2, 126-kW Bobrowice 3, 1-MW Bobrowice 4, 4.8-MW Otmuchow, 7.585-MW Pilchowice and 2.94-MW Dabie.

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