ANNOUNCEMENT 27 Oct 2015

On 27 October 2015, the EIB provided financing worth EUR 117 million (USD 131 million).

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 27 Oct 2015 | Removal date: open ended

State loan

On 27 October 2015, the European Investment Bank (EIB) and Pge signed an agreement worth EUR 117 million (approx. USD 131 million) for the project Pge Power Generation from Poland. The total cost of the project is estimated at EUR 466 million.

According to the project description issued by the EIB, Investment programme undertaken by PGE GiEK SA, including construction of gas-fired cogeneration units to be built on areas of existing power plants and CHP plants..

The objective of the project is defined as following: The projects will contribute to meeting heat and electricity demand at a competitive cost using natural gas as a a fuel source. All components of the project are located in a convergence region. The project is therefore eligible under Article 309 point (a) projects for developing less-developed regions and point (c) common interest of the Treaty on the functioning of the EU. The financing of these investments will contribute to the EIBs lending priority policies on energy efficiency, diversification and security of supply, climate action, and on convergence regions..

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

AFFECTED SECTORS