On August 1, 2024, a financing agreement was signed between the state-owned company Polska Grupa Energetyczna (PGE) and the European Investment Bank (EIB) for 1 billion Polish zlotys (230 million euros), this is reported by the railway transport news portal Railway Supply.

EIB Allocates €230 Million for Modernizing Poland's Railway Electrification
Photo: PGE

These funds will be used to modernize Poland’s railway electrification system.

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The project will be implemented by PGE Energetyka Kolejowa, a subsidiary of PGE responsible for electricity distribution to the country’s railways.

The loan is provided under the MUZa program, aimed at updating the electrification system.

This is the largest investment project undertaken by PGE Energetyka Kolejowa.

The planned funding will allow for the construction of 43 new traction substations, the modernization of 24 existing substations, as well as the construction of power lines and related infrastructure.

By 2028, PGE plans to invest 2 billion zlotys in this project.

Currently, PGE is already utilizing EIB credit lines amounting to 5.66 billion zlotys.

These funds are also used for the construction of combined heat and power generation plants fueled by gas, wind farms, and other facilities.

PGE is the largest energy company in Poland and a leader in renewable energy production.

The company’s strategic goal is to achieve climate neutrality by 2050.

As part of the Zielona Kolej (“Green Railway”) program, PGE Energetyka Kolejowa aims to supply rail transport with clean energy from renewable sources.

In the next phase of the program, the share of renewable energy is planned to increase to 85% by 2030.

Photo: PGE

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