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24-03-2017

Polish utility company supported by EIB in developing coal plant

European Responsible Investors Network( ERIN) in its latest newsletter mentions the involvement on the European Investment Bank in financing ENERGA, which is one of the four state-owned companies either building new coal power plants or planning to do so. Fundacja "RT-ON" joined ERIN in January 2017.

  

Polish utility company supported by EIB in developing coal plant
 
Poland is one of the last European Union member states which still develops coal plants, and has previously opposed EU climate change policy. One of the four state-controlled coal-heavy energy utilities, Energa, is currently looking for financing for its new 1000 MW coal power plant, Ostrołęka C, set to cost €1.5 billion, and has recently managed to secure approval from the European Investment Bank to issue hybrid bonds worth €250 million. Energa is currently the most diversified of the four state-controlled companies, despite deriving almost 70% of its energy production from coal. It is also a good case study on how these new coal projects are financed and run. For more information, and to read the full case study, contact This email address is being protected from spambots. You need JavaScript enabled to view it. from Foundation Development YES - Open-Pit Mines NO.

 

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