As reported by the company, the European Investment Bank has granted Orlen PLN 3.5 billion for strategic grid development, including connections for renewable energy sources, modernization and investment in a smart grid. The first of the signed contracts amounts to PLN 900 million. The program will be executed by Energa Operator.
Energa Operator’s investment plan focuses mainly on connecting new recipients, including new renewable energy sources, which is key to the dynamic growth of RES in Poland. The investment also includes the modernization of the distribution grid, construction and modernization of distribution infrastructure, as well as the development of smart grids, especially advanced measurement systems (smart metering), in the installation of which the company is a leader on the domestic market.
– The key to achieving emission neutrality is not only changing the sources of generation, but also improving operational efficiency. The development of distributed sources, balancing supply and demand, and energy storage are the challenges facing the Polish economy. Effective energy management has a chance to become one of the important competitive advantages of the Polish and European economy. That is why large investment programs that modernize our grid are so important. The financing obtained from the European Investment Bank will allow us to meet these challenges, while increasing Poland’s energy security – says Ireneusz Fąfara, President of the Management Board of Orlen.
– Support worth PLN 900 million for the development and modernization of the energy grid confirms the role of the EIB as a proven partner in the multidimensional energy transformation in Poland. As the European Union climate bank, the EIB supports strategic investment directions related to improving energy efficiency, developing renewable energy sources, as well as the stability and security of supplies. We expect that the seventh EIB loan agreement with the ORLEN Group will contribute to the implementation of these goals – said Professor Teresa Czerwińska, Vice-President of the EIB.