The European Bank for Reconstruction and Development (EBRD) is increasing its support for the development of renewable energy in Poland with a new approach which intends to attract more private sector investment to the sector.
The bank has approved an integrated approach to Polish Renewables which unites investments with policy dialogue for promoting reforms and technical assistance funding.
Poland is poised to face a major challenge of switching from carbon-intensive fuels to a clean and sustainable energy mix in the next ten years.
The country has reached a renewable energy capacity of 5.5GW by the end of 2013.
A further €10bn investment is expected in renewable energy to double the country’s capacity and achieve national as well as EU targets for share of renewables in Polish electricity consumption by 2030.
The EBRD’s Integrated Approach aims to promote the private sector investment in the Polish renewable energy sector, especially in wind power generation.
It also intends to support electricity distribution network operators in building both the physical and operational capacity to connect new renewable energy generators.
Policy dialogue will be undertaken to support efforts to set up a sustainable regulatory regime for renewable energy.
The approach is anticipated to translate into financing of additional 500MW of renewable energy capacity and around 1 million tons of C02 savings in Poland from now until 2018.
Image: The EBRD’s Integrated Approach aims to promote the private sector investment in the Polish renewable energy sector, especially in wind power generation. Photo: Courtesy of European Bank for Reconstruction and Development.