EIB supports modernisation of power grids of Enea

The European Investment Bank (EIC) granted Enea a loan in the amount of PLN 946 mln for the modernisation and extension of power grids in north-western Poland. Enea's investment programme realised during 2015-2017 will contribute to the enhancement of the competitiveness and distribution security in this part of Poland.

Due to the financial support from EIB, Enea will construct or repair 460 km of HV lines and 3,800 km of MV and LV lines. Additionally, it will install or modernise almost 3,300 transformers. The investment programme will enable connection of around 45 thou. new users to the grid. The investment will also allow to increase the reliability of energy supplies and decreasing losses in energy transmission.

László Baranyay, vice-president of EIB responsible for the bank's operations in Poland, said: "Support for competitive and safe energy supplies is one of the priorities of EIB, a bank of the European Union. Therefore, we are particularly satisfied with the conclusion of the agreement with Enea, since due to the extension of the power grid, safer energy supplies will be guaranteed for new customers. The loan confirms the bank's engagement in the modernisation of the Polish energy sector, which is indispensable for the successful economic development of this country."

Krzysztof Zamasz, the president of Enea, added: "We have ambitious investment plans and implement them consistently according to our strategy. We are a reliable and credible partner for financial institutions and the agreement with EIB confirms the fact. Funds obtained from the cooperation will be applied to investments in the distribution, i.e. security and reliability of energy supplies to our customers."

The project is a continuation of a successful cooperation of EIB with Enea commenced in 2012. The previous loan totalling to EUR 343 mln financed the earlier modernisation plan within energy distribution.

EIB supports projects relating to renewable energy sources, energy efficiency and modernisation of the energy infrastructure in Poland, having also in mind the energy security. From the beginning of EIB's operations in Poland in 1990, the bank granted loans for the energy projects in Poland totalling to almost EUR 3 billion including the above mentioned project.