Etanol.nu

Poland: EIB provides EUR 20.8 million for the construction of a biofuel plant

Release date: 17 February 2010 Reference: 2010-020-EN

The European Investment Bank (EIB) is lending EUR 20.8 million for the construction and operation of a new plant producing bioethanol in Goswinowice, in the South-West of Poland.

Mrs Marta Gajęcka, EIB Vice-President responsible for lending in Central Europe, including Poland, commented: “The EIB funds will help Poland to meet the specific 10% target for the share of the utilisation of renewable energy in the transport sector by 2020. In addition, this project will make Poland less dependent on energy imports and create employment in the rural areas of southern Poland”.

This is one of the first projects of its kind financed by the EIB in Europe. The new plant will produce annually 139 million litres of bioethanol and 100 000 tons of animal feed as a bi-product using locally grown and imported maize. The projected CO2 emission savings of the project are in line with EU legislation relating to the use of renewable energy for transport.

Background:

The mission of the EIB, the European Union’s bank, is to contribute to the integration, balanced development and economic and social cohesion of the EU Member States by financing sound investment.

The Bank recently made available EUR 65 million for the construction and operation of two medium-sized onshore wind farms in the north-west of Poland. Energy project loans signed in Poland to date total EUR 650 million. The EIB project pipeline in Poland represents lending amount of some EUR 3 billion targeting the increased use of renewable resources, efficiency increases, the modernisation and upgrading of emissions-reduction facilities, R&D and energy security.

Press contact:

For further details, please contact Mr Dušan Ondrejička, d.ondrejicka@eib.org, tel.: +352-4379-83334 or visit the EIB’s website: http://www.eib.org