EIB to inject more cash in Polish energy sector

European Investment Bank is considering investing more money in two Polish state-controlled energy companies. In case of PGE, the decision has been almost made, and regarding Tauron, the negotiations are at an initial stage, Reuters reported. "We are having very advanced talks on financing an investment with PGE. We are talking about a total financing amount exceeding PLN 2 billion," Piotr Michałowski, Head of Warsaw Office at European Investment Bank told Reuters. PGE is planning to spend up to PLN 50 billion by 2020 on new and existing capacity. The financial institution is also taking into consideration a loan of around €190 million for Tauron to support its PLN 1.5 billion worth project to build a new gas-fuelled unit, the agency informed. However, "these are initial talks, I assume we will finish them this year," Michalowski stressed.