The European Investment Bank (EIB) has announced today a new financing agreement exceeding €260 million with power utility TAURON for the development of Poland’s second-largest onshore wind farm. Scheduled for completion next year, the 190 MW facility in Western Poland will generate clean energy sufficient for nearly 200,000 households. This initiative highlights the EU development bank’s vital role in facilitating the nation’s energy transition while contributing to the EU’s intertwined objectives of enhancing climate action, boosting economic competitiveness, and fostering strategic autonomy.
The Miejska Górka wind farm project will feature over 50 turbines, each exceeding 130 meters in height and capable of producing 3.6 MW of clean electricity. Construction is progressing well, with the project primarily relying on European subcontractors. It aligns with TAURON’s energy transition ambitions, promotes regional development and employment, and increases the proportion of renewable energy in Poland’s energy mix.
“From guaranteeing clean energy for our households to enhancing the competitiveness of our industries, ambitious renewable projects address multiple critical challenges facing Europe,” stated EIB Vice-President Marko Primorac, responsible for the bank’s operations in Poland. “This favorable financing for a new wind farm exemplifies the EIB’s strategic role in energizing Europe by supporting ambitious partners like TAURON.”
The EIB is covering over half of the project’s overall cost, with this long-term financing underscoring the bank’s ongoing commitment to energy transition and climate initiatives. This investment marks TAURON’s largest onshore wind farm to date, representing a significant step toward achieving the company’s climate neutrality target for 2040. This agreement marks the EIB’s ninth financial collaboration with TAURON, which has previously involved power grids and hybrid bonds, among other ventures.
“The EIB financing provides substantial support for the TAURON Group’s energy transition, reinforcing the confidence that financial institutions have in our strategic investment initiatives. Favorable terms, including competitive interest rates and an 18-year duration, are particularly valuable to us. The EIB serves as a long-term financial partner for the TAURON Group, and this agreement is the second-largest loan signed between the two parties, following the PLN 2.8 billion agreement reached in 2021,” remarked Krzysztof Surma, Vice President of the Management Board for Finance at TAURON Polska Energia.
The EIB has consistently been a dependable partner in Poland’s energy transition, offering favorable financing for renewable energy projects, power grids, storage, energy efficiency initiatives, and low-emission transport. Notably, the EIB is the primary financier behind Poland’s offshore power expansion.
Source: European Investment Bank (EIB)
