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European Investment Bank is Loaning 1.56 Billion to Help Poland Realize Grid Modernization

Number of visits: Date:6/9/2015 04:32:21

Recently, the European Investment Bank is lending 164 million pounds (about 1.56 billion yuan) to help modernize the Polish Power Grid.

Polish energy company ENEA S.A will use the loan to upgrade and expand the electricity network located in the northwest of Poland.

The investment project will be implemented in 2015--2017 to promote Poland's energy security.

ENEA S.A will be build or renovate 460 kilometers high voltage cables, 3800 kilometers medium and low voltage lines and cables. The company will distribut 13% of the electricity in Poland and connect about 45,000 new system users to improve power supply reliability and reduce losses.

László Baranyay, the vice president of the European Investment Bank, said: "Through the power grid expansion of ENEA S.A, the project will ensure ensure the safety of the power supply for new users."

Baranyay added that this reflects the European Investment Bank committed to the modernization of the Polish energy sector. Network modernization is very important for the successful economic development of Poland.

TypeInfo: Industry news

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