The European Investment Bank (EIB) has signed an operational agreement amounting to PLN 59 million (approx. EUR 14 million) with Pomorski Fundusz Pożyczkowy sp. z o.o. (Pomeranian Lending Fund Ltd), to help finance much needed renewable energy investments in the Polish region of Pomerania. The EIB is acting as a Fund of Funds Manager under the Regional Operational Programme for Pomorskie Voivodeship for the programming period 2014-2020. Pomorski Fundusz Pożyczkowy sp. z o.o. is a regional loan fund specialised in the implementation of financial instruments.
The operational agreement covers financial instruments such as loans (i.a. preferential loans) designed to finance projects involving renewable energy installations, offering reasonable environmental effects and cost effectiveness. Around 60 projects in the fields of photovoltaics, biomass, heat pumps, biogas and modernisation of hydropower stations are expected to benefit from the programme. Potential beneficiaries include investors and entrepreneurs who want to build a renewable energy facility in Pomerania.
As a result, Pomerania will have an increased installed capacity coming from renewable energy sources. The capacity of renewable energy production is expected to rise by 5 MW and CO2 emissions will decrease by 12-13 thousand tonnes.
Eligible installations will generate electricity or heat (also generating electricity and heat in the co-generation process) using renewable sources such as biogas, biomass, sun, geothermal energy and water. The agreement also covers the infrastructure needed to connect the source to the distribution network, including micro-installations. Support for the reconstruction or extension of the distribution power grid will be possible only as part of the project supported by renewable energy sources.
Preference is given to projects that are consistent with municipalities’ low carbon energy supply policies. Other preferred projects will use innovation in the area of equipment and systems and ensure the highest environmental impact (such as reducing greenhouse gas emissions) in relation to how much will be spent.
Pomorski Fundusz Pożyczkowy sp. z o.o. will also grant co-financing for the programme in the amount of PLN 3.4 million (50% from own funds and 50% from third party sources), making the whole initiative more impactful. Thanks to this signature, the EIB has now assigned to financial intermediaries all the funds under management for the Region of Pomerania.
By the end of 2018, the EIB signed three operational agreements for PLN 378 million (approx. EUR 85 million) with Bank Gospodarstwa Krajowego, Poland’s national promotional bank, to support urban regeneration projects in the Polish regions of Pomerania, Mazovia and Silesia. The Bank also signed three Operational Agreements for PLN 273 million (approx. EUR 64 million) with Getin Noble Bank, to support energy efficiency projects in the housing sector in the regions of Mazovia, Pomerania and Kujawsko-Pomorskie. Finally, EIB signed one operational agreement for PLN 25 million (approx. EUR 6 million) with Bielskie Centrum Przedsiębiorczości for social inclusion projects on the labour market.