Enea has an agreement for a PLN 1 billion investment loan from the EIB for investments in distribution

Enea concluded an investment loan agreement with the European Investment Bank (EIB) in the amount of PLN 1 billion, which will be entirely allocated to investments in the area of distribution, supporting the “Green change of Enea”, in accordance with the Development Strategy of the Enea Group, the company announced. Investments in the development and modernization of the distribution network co-financed by the EIB will cover the years 2023-2025 and will be implemented in north-western Poland.

The investment program co-financed by the EIB includes, among others: modernization and construction of medium- and low-voltage energy networks, with a total length of almost 8,000 km. km; connection to the network 140 thousand new customers; increasing the rated power of transformers by 633 MVA; connection of 4.3 GW of new renewable energy generation capacity; installation PLN 2,400 thousand smart meters, it was reported.

“The transformation of the Polish energy sector is not only about intensive expansion of renewable energy sources. It is also an efficient distribution network, guaranteeing stable and safe electricity supplies and bidirectional flows. Obtaining financial capital to achieve our goals in the area of distribution will contribute to maintaining high quality of services and will increase the network’s potential for connecting new renewable energy sources and their integration with the network. This year, we have already allocated PLN 1.7 billion for investments in the distribution area,” said Paweł Majewski, president of Enea, quoted in the release.

Financing the investment program in the distribution area of the Enea Group is consistent with the priorities set out in the EIB’s “Energy Lending Policy” and the REPowerEU initiative, established by the EIB and the European Commission, which aims to make the European Union independent from Russian energy raw materials and accelerate the transformation of the energy sector towards zero emission. According to the European Union’s taxonomy, modern distribution networks are a key element necessary for the development of distributed sources of clean energy that support the sustainable development of the economy, as also indicated in the material.

The basis of the Enea capital group’s operations is hard coal mining and the generation, distribution and trade of electricity. The group’s distribution network, located in western and southwestern Poland, covers 20% of the country. The company has been listed on the WSE since 2008; is included in the mWIG40 index.

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