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PKN Orlen SAEnerga Operator has agreement with Poland's development bank for up to PLN 7.66 bln loan
Energa Operator, the unit of Poland's largest energy concern Orlen's subsidiary Energa, has signed with Poland's state development bank BGK a loan agreement for more than PLN 7.66 billion (EUR 1.84 bln) of EU funds under the national recovery plan KPO, providing support for the development of smart power grids by the company in 2022-2036, Energa announced in a market filing.
"The object of the agreement is for the company to incur a long-term liability up to the amount of PLN 7,661,757,198.22 in order to refinance qualified expenditures incurred by the company for the implementation of the project," Energa wrote in the market filing.
It added that according to the terms of the agreement, the amount of the loan may be increased, while, obviously, the conclusion of an appropriate annex to the agreement is required.
Energa reported that the funds disbursed under the agreement will bear fixed interest rate of 0.5 percent per annum.
The company is obliged to repay the loan within 300 months from the date of signing the agreement.
ao/
