EBOR agrees on loan to ZE PAK power plant

The bank will grant the credit for a period of 14 years as part of the credit approved by a consortium of commercial banks and international financial institutions. Late last year, ZE PAK received a loan from the National Fund for Environmental Protection of zł. 126 million. Elektrim, which holds a stake of 38.5% in PAK, has already managed to raise EUR 120 million for the construction of an additional energy block as part of one of the power plants. The company, however, still needs an extra EUR 450 million. Piotr Nurowski, Elektrim's president announced the reason why the consortium agreed to the credit was the fact that the financing model of the project was accepted as well as the guarantees. Together, they encompass 100% of shares in Pątnów II, and guarantee high quality construction due to the main contractor, Canadian SNC Lavalin, which replaced Elektrim-Megadex. (Parkiet, p. 5) A.K.