ADVERTISEMENT

EIB backs Polish wind farm with EUR 60 mln loan

Telco

Photo by Shaiith/Shutterstock.com

The European Investment Bank (EIB) says it has signed a EUR 60 million (USD 67.9 mln) agreement with Lithuanian Ignitis Group for the construction and operation of a new onshore windfarm in Poland. 

File photo illustrative only, by Shaiith/Shutterstock.com

The EUR 60 mln will cover around 47% of the investment, the EU bank said. The wind park, which is located in the Pomeranian Voivodship, has an expected capacity of 300 gigawatt-hour (GWh) of electricity, potentially supplying around 75,000 households with clean energy on an annual basis.

Construction activities started in July 2019. The project, which will host 29 turbines, is expected to be operational in the spring of 2021, EIB says.

ADVERTISEMENT

Fiscal, monetary policy partnership needed to rein in CPI - ... Analysis

Fiscal, monetary policy partnership needed to rein in CPI - ...

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

FAO–Food Bank convoy delivers food to those in need City

FAO–Food Bank convoy delivers food to those in need

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.