Polish energy company Orlen has secured a third financing agreement with the European Investment Bank (EIB) to support the expansion of its electricity distribution network. The new PLN 1.7 billion (€400 million) agreement increases the total funding Orlen has received from the EIB to PLN 3.5 billion, marking the largest financial support package granted by the bank in Poland.
The funds will be utilized by Energa Operator, a subsidiary of the Orlen Group, to enhance the security and efficiency of electricity supplies and expand the capacity for integrating renewable energy sources. The investments will include the construction of new power lines and connections for new customers, including prosumers with their own renewable energy systems.
Magdalena Bartos, Vice President of the Management Board and Chief Financial Officer at Orlen, commented: “This record-high financing from the European Investment Bank is a strong vote of confidence in our growth strategy. We have an ambitious yet well-structured plan that will not only create value for our shareholders but also contribute to the broader economy.”
Bartos further added, “The EIB funding will be directed toward investments in our electricity distribution network, such as building new power lines and connecting new customers, including prosumers with their own renewable energy sources. These projects will be carried out by Energa Operator, which, thanks to the financing secured by ORLEN, is well-positioned to reinforce its leadership in Poland’s energy transition.”
Orlen will be able to access the loan in tranches over the next three years, with a repayment period of up to 15 years from the disbursement date. The financing will support a PLN 40 billion investment programme announced by Energa Operator in 2025.
As part of its long-term plans, Energa Operator aims to construct 11,000 kilometers of new power lines and 7,000 kilometers of underground cables by 2035, while upgrading nearly 10,000 kilometers of existing infrastructure. The investments will also enable the connection of 350,000 new customers and facilitate the integration of 9GW of renewable energy sources, alongside energy storage systems to stabilize the power grid.
In addition to the EIB funding, Energa Operator has secured PLN 7.5 billion from Poland’s National Recovery Plan to further support its investment initiatives.
