Polish state utility secures EIB funding to accelerate energy decarbonisation


The European Investment Bank is providing Polish state-owned utility PGE Polska Grupa Energetyczna with R64 million for the construction of three onshore wind energy farms.

The onshore wind energy farms, Starza, Rybice and Karnice II, will be developed in northern Poland and will have a total capacity of 97MW.

The funding provided by EIB is equivalent to 50% of the total costs of the projects which are estimated at approximately €128. 2 million.

The construction of the projects began in February 2019 and is expected to be completed by the first half of 2020.

The projects will increase PGE’s total energy capacity from wind farms by 18% to 650MW making the utility a leader in renewable energy generation in Poland.

A subsidiary of PGE, PGE Energia Odnawialna, is responsible for the development of the projects.

The aim of the onshore wind energy projects is to increase renewable energy capacity in the country’s energy mix to achieve regional energy transition and climate change goals.

Henryk Baranowski, President of the Management Board of PGE Polska Grupa Energetyczna, said: “Our annual generation of electricity from wind has increased from 0.1TWh in 2011 to over 1TWh, and we are not finished yet. With support from the EIB, we are close to completing our investment projects related to new onshore wind capacity. 

“Our ambition is to reach a 25% share in this country’s generation of power from renewable energy sources in 2030. We want to achieve this objective thanks to, among other things, the implementation of successive green investment projects. Our first 1GW wind farm on the Baltic coast is to be completed by 2026, and our offshore project is to provide further capacity of 1.5GW by 2030. That year is also the planned deadline for making available up to 2.5GW from photovoltaics”