The government does not plan any changes to PPK

Record EBRD investments in Poland

The European Bank for Reconstruction and Development has broken the investment record in Poland this year, exceeding the amount of one billion euros. The EBRD is counting on an even better result next year.

In 2023, the EBRD invested as much as EUR 1.2 billion in Poland, said Elisabetta Falcetti, EBRD Regional Director for Poland and the Baltic States. This is over EUR 200 million more than in 2022, when EBRD investments in our country did not exceed EUR 1 billion.

The EBRD’s plans for 2024 are to encourage the new government in Poland to pursue an ambitious renewable energy target and accelerate steps to phase out coal, which, according to the plan, is to take place in 2050. Elisabetta Falcetti explained that financing from the EBRD is distributed evenly into three main types activities, i.e. financial institutions, sustainable energy and the industry, trade and agribusiness category. In 2023, 100 percent support went to the private sector, and three quarters of total investment was in green finance. The main goal of EBRD investments are relatively mature and proven technologies, trying to limit risk.

We are, of course, great supporters of renewable energy financing in Poland – for example, we will be (…) part of the consortium financing the Baltic Power offshore wind energy project, but we have also invested in private renewable energy developers, including those with a regional reach beyond Poland and including, among others, the Baltic countries and Romania

– said the EBRD director.

Among the investments listed by the EBRD chief was support for the Polish company Elemental Holding, which is a leader in recycling metals recovered from used batteries or refrigerators. In addition, in October the bank concluded a tripartite agreement with PV developer R.Power and 3S Ra Holdings, a minority shareholder of R.Power, in connection with a planned investment of up to EUR 75 million in exchange for a 30% stake in 3S Ra Holdings.

In terms of possible bank investments, Elisabetta Falcetti mentioned the green economy; decarbonisation of some sectors where it is difficult to reduce emissions, electrification of transport; innovation and digitalisation, including fintech, e-commerce, digitalisation in corporations, cybersecurity and hi-tech in pharmaceuticals. An additional impulse for greater involvement of the EBRD in Poland may be the unblocking of funds from the KPO, because then there may be an opportunity to co-finance and supplement existing EU funds.