NIB finances investment to reduce combustion emissions from Poland

NIB has signed a 12-year-maturity loan agreement for PLN 67.5 million (EUR 16.2 million) with Polish electricity company Energa SA to finance a 20 MW wind farm project in north-western Poland. The wind farm project will contribute to crowding out electricity generated from coal.

The wind farm is situated in Myslino, near the City of Kolobrzeg on the Baltic Sea coast, and consists of ten Gamesa G97 turbines, each with a power output of 2 MW. Commissioning of the wind farm is scheduled for November 2014.

Energa SA’s strategy is to increase the proportion of renewables in its energy mix and to support efficient use of energy. This will result in reduced carbon dioxide and sulphur emissions, including for NIB’s member countries around the Baltic Sea.

“We are pleased to develop our business with the value added from NIB’s financing,” says Roman Szyszko, Chief Financial Offier of Energa SA.

“Financing the Myslino wind farm project supports NIB’s long-term commitment to enhance the environment of the Nordic-Baltic region”, says Henrik Normann, NIB President & CEO.

In 2010, NIB signed a PLN 200 million loan with Energa, along with EIB and EBRD, to finance modernisation of the company’s electricity network, including overhead terminals for connection of wind farms. The 20 MW Myslino wind farm is made possible by this network modernisation programme.

Energa Group is one of the four major energy groups in Poland. Energa operates in the northern part of Poland, providing over 2.9 million customers with approximately 20.4 TWh annually via a service network that covers 25% of the country’s total area.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Sami Loukkola, Senior Manager Lending, at +358 50 311 3698,

Arild Moen, Senior Communications Officer, at +358 10 618 0496,