Polish electric utility Energa has secured $300 million (€250 million) of financing from the European Investment Bank (EIB) for modernization and expansion of its electricity distribution network in northern and central Poland.
According to the company, the primary goal of its investment programme is to boost the security of electricity supply and at the same time bring down network losses and enhance the service quality, reports EBR.
The funds will be invested in the upgrades of the distribution network and the expansion and modernisation of the power grid, including the strengthening of its reliability.
Energa stated that the project will also have investments related to renewable energy sources, especially in low and medium voltage, to boost the hosting capacity of the electricity network.
The Polish electric utility said that its total capital expenditure in the 2017-2019 period has been estimated to be around $965 million (€814 million).
Source: Energy Business Review