Polish power company Enea announced on Friday (23 February) that it has concluded a one billion zloty (231.7 million euros) revolving credit agreement with Polish banks Bank Pekao and PKO Bank Polski.
The funds will be allocated in their entirety to projects on renewable energy sources, Enea noted in a press release.
“Enea actively participates in the transformation of the Polish energy sector and intensively expands production capacity from renewable energy sources. The production potential of the Enea Group in the field of electricity generation from renewable energy sources, both from photovoltaics and wind, is growing dynamically. We are implementing further projects, looking for opportunities to expand our clean energy generation potential. Obtaining debt financing from Bank Pekao SA and PKO Bank Polski will contribute to faster implementation of zero-emission projects,” said Monika Starecka, acting President of Enea.
The interest rate on the obtained financing will depend on the achievement of sustainable development indicators, such as the CO2 emission reduction rate and the increase in the share of renewables in Enea’s production structure, the company noted in the press release.
“As the Main Lender and Loan Agent, we are proud of the financial agreement signed with Enea SA, which will be fully allocated to investments in renewable energy sources. This is an expression of our support for the Enea Group in achieving its ESG goals. The financial sector plays a key role in Poland’s energy transformation, which is why we actively participate in financing green investments and support initiatives aimed at improving the energy mix,” said Jerzy Kwieciński, Vice-President of Bank Pekao.
The funds will not be allocated for the construction, acquisition or expansion of coal-fired power plants or any other activities related to this raw material, Enea reiterated.