EIB and PGE Sign €525 Million Deal for Renewable Energy in Poland

The European Investment Bank (EIB) has granted PLN 2.25 billion (over €525 million) to Poland’s largest utility, PGE Polska Grupa Energetyczna, to support renewable energy production and infrastructure upgrades.

• Loan Amount: PLN 2.25 billion (~€525 million) to finance photovoltaic installations and upgrade a pumped-storage plant.
• Projects: Development of photovoltaic installations with a combined capacity of nearly 730 MW and modernization of a 540 MW pumped-storage power plant in southern Poland.
• Context: This is the seventh financing agreement between EIB and PGE, aligned with the REPowerEU strategy to support energy transition and climate action in Poland.
• Strategic Importance: The investments are aimed at reducing greenhouse gas emissions, enhancing energy security, and improving economic competitiveness in regions below the EU average GDP per capita.

This agreement strengthens Poland’s green energy capacity as part of the broader EU climate and energy goals.