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EBRD to help modernise Europe’s largest lignite power plant
Loan finances state-of-the-art power plant
The EBRD is lending BOT Elektrownia Bełchatów S.A, Europe’s largest
lignite-fired power plant, the zloty equivalent of €125 million to build a
state-of-the-art 833 megawatt generating unit at its main site in Bełchatów
(near Łódź), in central Poland.
The investment is part of an overall €1.7 billion modernisation and
environmental strategy being implemented by state-owned Bełchatów to bring it
in line with Polish and European Union environmental standards. The programme
includes the modernisation of existing power units, additional flue gas
desulphurisation installations and a new waste disposal system. The new
EBRD-financed generating plant will house energy efficient technology that
will significantly cut pollution levels.
The overall investment is being supported with €220 million in financing from
the European Investment Bank, and €150 million from the Nordic Investment
Bank. Two commercial banks, ING and Citibank, who together with EBRD play the
role of the Lead Arrangers, will provide various facilities in the total
amount of €604 million. With exception to the Nordic Investment Bank all
financing will be provided in the zloty equivalent.
Anthony Marsh, EBRD Director for Power and Energy, said the EBRD loan is
helping to modernise the Polish electricity sector, and introducing technology
that will significantly reduce emissions while increasing generating capacity.
It is an important project that will also demonstrate to other power plants in
the region the environmental benefits a modernisation programme can have.
Key environmental issues at Bełchatów, which provides around 19 per cent of
Polish electricity, include air emissions and waste disposal, both of which
are being addressed through this project. As part of Bełchatów’s investment
programme significant improvements will be made to reduce the environmental
impact of the operation. This complements the gradual modernization programme
that has been implemented since the 1990s, aimed at improving efficiency and
reducing emissions.
For example, the plant has installed flue gas desulphurization in 8 units,
modernised burners, and optimised boiler combustion processes on existing
units, which has resulted in a drastic reduction of emissions over the past
decade. The plant’s current generating capacity stands at 4,440 MWs.
Bolesław Cirkos, Vice President for Strategy and Development at Bełchatów,
said these latest loans build on Bełchatów’s commitment to modernise the plant
to reduce pollution levels within EU levels. The EBRD, together with other
institutions, has been an important partner in helping to achieve this. It is
an important project that will also increase Poland’s energy supply, and
therefore security, he added.
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