Latest news with #BGK
Yahoo
23-05-2025
- Business
- Yahoo
Enea gains funds from BGK to upgrade distribution network in Poland
Enea Group has announced a 9.13bn zloty ($2.4bn) loan agreement with Bank Gospodarstwa Krajowego (BGK), aimed at upgrading the company's power infrastructure. The funding, sourced from the National Resilience and Recovery Plan, will be invested in the construction and modernisation of distribution networks using smart grid technology. The loan will facilitate the connection of recipients and energy sources to the smart power grid. It will also support the expansion of communication systems and information and communications technology (ICT) solutions that bolster network operations. Enea president Grzegorz Kinelski stated: 'Signing the agreement with BGK is one of the key steps in the transformation of our distribution network. Thanks to these funds, we are accelerating the modernisation of infrastructure, which will translate into the country's energy security, more effective connection of renewable energy sources and active participation of energy recipients in the market. 'We are implementing our goals defined in the Enea Group development strategy until 2035 and supporting the country's energy transformation.' The initiative will span almost the entire area in which Enea Operator, a distribution entity within Enea Group, operates. Funds will be disbursed between 2025 and 2036, with the repayment of the principal spread from 2034 to 2050 and the interest rate on the loan set at 0.5% per annum. Up to 2035, Enea Group intends to invest 41bn zlotys in the distribution segment, enhancing the resilience of the national energy system and promoting the growth of renewable energy sources (RES). The Energy Support Fund (EFF), a crucial component of the KPO managed by BGK, is designed to progress Poland's energy transition by offering preferential loans for strategic energy sector investments. The EFF's role is pivotal in expediting the modernisation of energy infrastructure, integrating renewable energy sources and strengthening the country's energy security. Bank Gospodarstwa Krajowego president Mirosław Czekaj stated: 'Thanks to EU funds from the National Reconstruction Plan, we have 90 billion zlotys at our disposal for this purpose, including offshore wind energy. Today's agreement is another step closer to full use of funds from this pool. 'Modernisation of power grids will be a driving force for further investments by entrepreneurs in renewable energy sources, including photovoltaics and energy storage. The entire economy will benefit from increased energy security.' At the same time, Poland's National Fund for Environmental Protection and Water Management (NFOŚiGW) has launched a call for applications for co-financing electricity storage facilities. With a budget exceeding 4bn zlotys, this programme aims to bolster the stability of the national power system and optimise the use of renewable energy. "Enea gains funds from BGK to upgrade distribution network in Poland" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Reuters
21-05-2025
- Business
- Reuters
Polish power company Enea signs $2.4 billion loan deal for grid upgrades
GDANSK, May 21 (Reuters) - Enea has signed a 9.13 billion zloty ($2.44 billion) loan agreement with state-owned Bank Gospodarstwa Krajowego (BGK) under the EU's Recovery and Resilience Facility, the Polish power utility said on Wednesday. The funds will be used to upgrade Enea's power distribution infrastructure in northwestern Poland, aiming to improve the quality and security of electricity supply and enhance grid capacity to integrate renewable energy sources. ($1 = 3.7420 zlotys)
