Orlen signs €244m deal with EIB for renewable energy grid expansion
Author: PPD Team Date: 24/12/2024
Orlen has secured a second agreement with the European Investment Bank (EIB) for nearly 1bn zlotys ($244m) to fund its strategic electricity distribution network programme.
The investment will enhance renewable energy connections, including the development of 1,000 new EV charging points and an expansion of grid capacity to integrate 1.4GW of clean energy, powering 900,000 households.
The programme will enable Energa Operator, an Orlen Group company, to begin projects in 2025, constructing 830km of power lines and 320km of service lines, connecting 25,000 new customers. Additionally, 170,000 smart meters will be installed for remote energy consumption readings.
This funding is part of a larger 3.5bn zlotys package from the EIB for Orlen’s network expansion and modernisation, further boosting the group’s green energy portfolio. The partnership with the EIB ensures cost-effective financing and supports Orlen’s energy transition efforts.