EBRD to promote investment in 500 MW of Polish renewables by 2018

Nov 20, 2014 - The European Bank for Reconstruction and Development (EBRD) has prepared a series of measures aimed at promoting the deployment of 500 MW of additional renewable energy capacity in Poland by end-2018.

EBRD said in a statement today that Poland will need an estimated EUR 10 billion (USD 12.5 billion) of additional investment in renewable energy so it could double its capacity and meet national and EU targets for the share of green energy in its power mix by 2030. Poland had 5.5 GW of renewable energy plants as at the end of 2013.

The board of directors of the bank has authorised a plan, called Integrated Approach to Polish Renewables, that would seek to spur private sector investment in Poland’s renewables industry and particularly in wind power. The programme would also back electricity distribution network operators in installing the needed capacity to integrate more green energy. Also, EBRD will hold talks to arrange a stable and sustainable regulatory regime for renewables.

Yesterday, the bank said it has received a request from units of Polish energy group Polenergia SA (WSE:PEP) to extend an up to PLN-500-million (USD 149m/EUR 119m) loan for 206 MW of wind projects. The application is currently awaiting final review.

(PLN 1.0 = USD 0.297/EUR 0.237)

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