TAURON Polska Energia obtained two preferential loans totaling over PLN 510 million from European Investment Bank (EIB). The funds will be used to for execution of two investment projects in the generation segment.
“Loans from EIB confirm that the TAURON Group effectively uses preferential funds available on the market. Preferential loan for projects, whose overall goal is to increase efficiency and reduce CO2 emissions will deliver measurable results in terms of costs. We intend to apply for similar funds in the future”, said Krzysztof Zawadzki, Vice-President of the Management Board, CFO.
The company obtained two loans:
- PLN 300 million (approx. EUR 76 million) to finance the reconstruction and commissioning of high-efficiency hard coal-fired cogeneration (CHP) unit and associated infrastructure at Bielsko-Biała power plant. The loan will help TAURON finance the replacement of the existing unit with a new one, of a higher capacity of 50 MWe and 182 MWt. The new unit will have a higher efficiency, approximately 90% vs. 60% of the existing one. The fuel savings of the new unit have been estimated at over 25%. The construction started in August 2010 and the general contractor is Polimex-Mostostal. The project completion has been scheduled for mid 2013.
- PLN 210 million (approx. EUR 53 million) to support the construction and operation of a new 50 MWe and 45 MWt biomass-fired boiler at Jaworzno III power plant and the refurbishment of a steam turbine. The boiler construction is executed by a syndicate between Rafako and Omis. Project commissioning has been scheduled for 2012.