Boosting Renewable Energy Connections: Orlen Secures Significant Funding
Strategic Investment in Electricity Distribution Network
Orlen has taken a major step forward in its commitment to renewable energy by signing a second agreement with the European Investment Bank (EIB) to fund its strategic electricity distribution network investment programme. This nearly 1 billion zlotys ($244 million) funding injection will significantly enhance the company’s ability to integrate clean energy sources into its grid.
Powering a Greener Future
The investment will enable Energa Operator, an Orlen Group company, to embark on projects beginning next year, focusing on boosting renewable energy connections, including powering 1,000 new EV charging points. This will increase the grid’s capacity to integrate 1.4 GW of clean energy, enough to supply 900,000 households.
Extending the Network, Enhancing Efficiency
By the end of 2026, the funds will be used to construct approximately 830 km of power lines and 320 km of service lines, extending the network to nearly 25,000 new customers. Additionally, the projects will include the deployment of 170,000 smart meters, enabling quick remote reading of energy consumption data and promoting greater efficiency.
Cost-Effective Financing for a Sustainable Future
Orlen’s management board CFO and vice president, Magdalena Bartoś, emphasized the importance of securing cost-effective financing for investment projects, stating that “through our partnership with the European Investment Bank, we have access to the necessary funding on highly favourable terms, significantly better than those offered by commercial lenders.”
A Key Partnership for Energy Transition
The EIB-backed initiative will significantly boost Orlen Group’s green energy portfolio, supporting the company’s energy transition goals. This funding is part of a larger 3.5 billion zlotys package allocated by the EIB for Orlen’s investments in expanding and modernising its energy network.
Driving Grid Expansion and Supply Security
EIB vice-president Teresa Czerwińska highlighted the importance of upgrades and expansion of Poland’s power distribution network, stating that “investments will also increase supply security by improving the grid’s resilience to extreme weather events such as gale-force winds or heavy downpours that are aggravated by climate change.”
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