EIB to invest PLN 1 bln in Polish energy and science sectors. Energa with €250 mln

The European Investment Bank will spend almost €1 billion on strategic investments in the Polish energy and science sector, the Ministry of Development announced with €250 million going to state-owned utility Energa. “Energa will receive a €250 million credit as part of the Juncker Plan for modernization of the distribution network and Polish science will be supported by research and development loans of €730 million,” the ministry said. Energa loan will come in hybrid financing form. Sale of the subordinated, unsecured, coupon bearer bonds will come in two equal tranches with tenors of 6Y and 10Y. According to the company, the purpose of obtaining financing is to invest in the distribution segment in the 2017-2019 period in order to increase the security of electricity supply while reducing network losses and improving service quality.