London-based bank buys stake in Polish power producer Tauron

By 2030, the company aims to generate more than 65% of its energy from zero and low emission sources while reducing greenhouse gas emissions by half

A London-based bank has announced a PLN240 million (€55.8m) bond investment for a 24% stake in Polish power producer Tauron Polska Energia.

The energy company generates most of its electricity from coal-fired power plants but has committed to reduce its carbon intensity through the closure of the plants and a large increase in the use of renewable energy.

The proceeds of the bond will be used to expand Tauron’s portfolio of solar power installations to up to 300MW and onshore wind farms by 720MW by 2025.

By 2030, the company aims to generate more than 65% of its energy from zero and low emission sources while reducing greenhouse gas emissions by half.

Tauron will face higher financing costs if it fails to meet these two objections.

Grzegorz Zieliński, Regional Director for Central Europe and Head of Poland at the European Bank for Reconstruction and Development (EBRD) said: “Projects such as this are crucial for Poland’s green transition. We have financed more than 1.5 GW of renewable capacity in Poland to date and we are proud to partner with Tauron in pioneering its shift from coal to renewable energy sources.

“This project is an example of how coal-reliant regions can be transformed, while providing new employment opportunities and driving green investment.”

If you enjoyed this story you can sign up to our weekly email for Energy Live News – and if you’re interested in hearing more about the journey to net zero by 2050, you can also sign up to the future Net Zero newsletter. 

Latest Podcast