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Energa Receives $250 Million Loan

25 Jun 2013

Energa has received funding in the region of a $250 million, 15 year loan, to develop a smart grid. According to the European Bank for Reconstruction and Development (EBRD) website, the loan has been approved by the bank’s board of directors but is yet to be officially signed off.

This funding for the smart grid development should aid Poland in meeting the EU requirement that 80% of homes and businesses in that region should be covered by smart grid technology by 2020. Energa has said that the utility aims to provide smart meters to 100% of the homes and businesses it serves.

In addition to this, the EBRD documentation reveals that Energa is also in discussions with the European Investment Bank on parallel financing for the project. Bloomberg New Energy Finance estimates the value of the Polish smart market could reach $2.8 billion by 2020 and is a step of progression for smart grid investment in the area.