The loan will be used to co-finance TAURON’s five-year investment program for modernization and extension of electricity networks in southern Poland. Total cost of the project is estimated at PLN 2 billion.
The first tranche of PLN 450 million is to be drawn in July and the remainder will be used in accordance with investment needs. The loan is to be repaid within 12 months from the disbursement of the first tranche.
This is the third loan agreement signed between TAURON Polska Energia and European Investment Bank. Earlier, in October 2011 TAURON signed two loan agreements for over PLN 500 million to finance execution of two investment projects at TAURON Wytwarzanie.
