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NIB-financed investment to reduce power network losses in Poland

The Polish electricity company Energa SA has received a 12-year-maturity loan totalling PLN 200 million (EUR 50 million) from the Nordic Investment Bank for the modernisation and construction of over 6,000 kilometres of transmission networks.

Energa is set to construct and refurbish its low- and medium-voltage network as well as substations. The investment programme is estimated to help reduce network losses by 204,000 MWh a year by 2011. This will have a positive environmental impact by reducing greenhouse gas emissions. The company will also invest in an Advanced Metering Management system and intelligent networks, actions which will help reduce network losses by another 100,000 MWh a year.

"Improving the stability of power distribution networks in the northern regions of Poland, which border NIB's member countries is in line with the Bank's recently defined approach for the development of the energy sector," says Johnny Åkerholm, NIB President and CEO.

Energa operates in the central and northern part of the country, servicing 2.8 million customers, including over 200,000 corporate and institutional customers.

The Nordic Investment Bank is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/aaa, with the leading rating agencies Standard & Poor's and Moody's.

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