Power industry
EBRD to refinance Pątnów expansion
European Bank of Reconstruction and Development has agreed to co-finance construction of a new power block at Pątnów power plant, one of Poland?s largest energy producers. The project at Pątnów, part of PAK power plant controlled by the publicly traded Elektrim group was suspended earlier this year after Polish banks refused to lend money to Elektrim subsidiary. Completion of PAK by SNC Lavalin will cost approximately 400-million euro. EBRD is expected to provide 75-million euro loan, while state-owned NFOŚiGW ecological fund will lend approximately 226 million zloty.
Rafako, Remak and Elektrobudowa, three publicly traded contractors at PAK now say work on the project will be restarted...