Planned to be built on the existing site of Stalowa Wola power plant in South-Eastern Poland, the new CCGT plant will have an electric capacity of 450MW and heating capacity of 240MW.
The plant is anticipated to be operational in the second half of 2015.
Once operational, the plant will supply electricity to the grid and heat to local towns and reduce coal consumption at the Stalowa Wola power plant by 100,000t per annum.
The plant is expected to generate around 3,500GW hours of electricity per year and consume 600 million cubic metres of natural gas.
EIB said the new power station will improve security of the internal supply of electricity in Poland and advance the fuel diversification in the country’s power sector.
