BGK to finance construction of Puławy powerhouse

State-owned lender Bank Gospodarstwa Krajowego (BGK) and state-controlled Grupa Azoty have signed an agreement to finance the construction of a power plant in Puławy, the lender announced. "The construction of the power plant will be the 56th project financed by BGK under the Inwestycje Polskie government program. Our total contribution to the program stands at PLN 23 billion," said Jacek Szugajew, deputy head of BGK. "The project aims to achieve increased energy efficiency. The low-emission, waste-less, environment friendly power plant should be well matched with the EU climate politics," said Zygmunt Kwiatkowski, CEO of the powerhouse. The construction is expected to be finalized in 2019.