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EBRD may lend Energa $251 mln for Polish smart grid project

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The European Bank for Reconstruction & Development is considering loaning Polish utility Energa SA as much as PLN 800 million ($251 million) for a smart grid project, a “step change” in investment in the region, Bloomberg reported citing an analyst. The EBRD’s board approved the loan with a term of as much as 15 years though it hasn’t been signed yet, according to a June 11 posting on the bank’s website. The planned upgrades to Energa’s distribution network may cost PLN 5.2 billion, including installation of advanced metering infrastructure that’ll improve energy efficiency and facilitate interconnection of more renewable energy, the London-based lender said. The Polish smart metering market may be worth as much as $2.8 billion by 2020 as it seeks to meet the European directive, Bloomberg New Energy Finance analyst Colin McKerracher said Friday.

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