The EBRD is stepping up support for the development of renewable energy in Poland with a series of measures aimed at increasing private sector investment in this crucial sector of the economy.
The Board of Directors of the Bank has approved an Integrated Approach to Polish Renewables which combines investments with policy dialogue that promote reforms and technical assistance funding.
In the coming decade, Poland faces a major challenge of switching from a reliance on carbon-intensive fuels to a more diverse, clean and sustainable energy mix.
Poland has already made good progress, by reaching a renewable energy capacity of 5.5 GW of renewable capacity by the end of 2013.
However, an estimated additional €10 billion (US$12.4 billion) investment in renewable energy will be needed to double Poland’s capacity and to achieve national and EU targets for share of renewables in Polish energy consumption by 2030.
The key objectives of the EBRD’s Integrated Approach to Polish Renewables are to promote the private sector investment in the Polish renewable energy sector, particularly in wind power generation.
It also aims to support electricity distribution network operators in building both the physical and operational capacity to connect new renewable energy generators, and to conduct policy dialogue to support efforts to establish a stable and sustainable regulatory regime for renewable energy.
It is expected that this approach will translate into financing of additional 500 MW of renewable energy capacity and at least 1 million tC02 savings in Poland from now until the end of 2018.