WARSAW, July 22 The European Investment Bank
has granted a 295 million zlotys ($95.98 million) loan
to Tauron Polska Energia to help Poland's No.2 energy
producer develop its distribution network and invest in
renewable energy, the EIB said on Tuesday.
"We ...welcome this agreement with Tauron, as the project
will ensure a secure supply to new customers through the
expansion of the company's electricity network and the roll-out
of a smart metering pilot programme," the European Union's bank
said in a statement.
It marks the fourth EIB loan for made available to Tauron
totalling 1.7 billion zlotys ($553.4 million) to support
investments including the construction of a biomass-fired power
unit at the Jaworzno III power plant.
Poland produces about 90 percent of its electricity from
coal and heavy investment is required to cut its greenhouse gas
emissions to meet European Union requirements.
The country's four largest state-controlled energy producers
plan to invest 120 billion zlotys by 2021.
Warsaw also wants to improve its energy security, as imports
from Russia cover nearly two-thirds of Poland's annual gas
consumption. Russia also supplies over 90 percent of the oil
Poland needs every year.
($1 = 3.0720 Polish Zlotys)
(Reporting by Marcin Goclowski and Anna Koper; editing by Jason