EIB grants PLN 946 milion loan to ENEA

The European Investment Bank (EIB) is lending up to PLN 946 million to Polish energy company ENEA for the upgrade and extension of the electricity networks in northwestern Poland. This investment program will be carried out over the period 2015-2017. “The EIB, as the bank of the European Union, strongly promotes a competitive and secure energy supply. We therefore particularly welcome this agreement with ENEA, as the project will ensure a secure supply to new customers through the expansion of the company’s electricity network. This loan confirms the EIB’s commitment to the modernization of the Polish energy sector, which is necessary for the successful economic development of the country," said László Baranyay, EIB Vice-President. Krzysztof Zamasz, President of the Management Board 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 the EIB confirms the fact. Funds obtained from the cooperation will support investments in distribution and this ultimately will increase safety and reliability of energy supplies for our customers” The previous €343 mln loan financed an earlier modernization program for power distribution.