PGE Energia Ciepła, a producer and supplier of electricity and heat and a unit of PGE Group, secured PLN 48.7 million (~$12.61 million) in the form of a preferential loan from the National Fund for Environmental Protection and Water Management for the construction of 7 solar projects totaling 10.54 MW.
The projects are to be built at the company’s six combined heat and power plants in Rzeszów, Kielce, Lublin, Zgierz, Bydgoszcz, and Gorzów Wielkopolski in Poland. The electricity generated from the projects will be used 100% by the company for its own needs.
The financing for the solar projects is provided by the Modernization Fund under the Energy-Intensive Industry-RES priority program.
The project’s construction is expected to be completed by December 2026.
“The result of obtaining electricity from photovoltaic installations will be a total reduction in CO2 emissions by 7220 tonnes/year, which is as much as is emitted annually by over 800 single-family houses heated with fossil fuels,” says Radosław Woszczyk, Vice President of the Management Board of PGE Energia Ciepła.
“We help energy-intensive companies reduce emissions through the use of renewable energy sources. These investments bring measurable economic and environmental benefits, which benefit the entire Polish economy,” said Józef Matysiak, Deputy President of the Management Board of the National Fund for Environmental Protection and Water Management.
Last year, PGE Energia Ciepła’s Zielona Góra combined heat and power plant benefited from the subsidy under the Energy-Intensive Industry-RES priority program.
According to Mercom’s Annual and Q4 2024 Solar Funding and M&A Report, large-scale project funding in 2024 increased 21% year-over-year.
Earlier this week, Enlight Renewable Energy, a developer of renewable energy projects, secured a debt financing package that includes $773 million in construction loans for the Country Acres project, located near Sacramento, California. The project comprises 403 MW of solar power and 688 MWh of energy storage. The project is expected to reach full commercial operation during the second half of 2026.
