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Bank Gospodarstwa KrajowegoTauron power inks annex to loan agreement with BGK, extending application period for Tranche B
Listed power utility Tauron has signed an annex to the loan agreement with Poland's state development bank BGK, according to which Tranche B will be available at the company's request within 24 months from the date of conclusion of the agreement, Tauron announced in a market filing.
Previously, according to the agreement, Tranche B was to be available at the company's request within 12 months of the date of conclusion of the agreement.
At the end of October 2024, Tauron PE signed a PLN 2 billion (EUR 471.2 mln) loan agreement with BGK. In March 2025, the company signed an annex to the agreement with BGK increasing the loan amount by PLN 450 million (EUR 106 mln) to PLN 2.45 billion (EUR 577 mln).
The loan proceeds may be used to finance or refinance the group's expenses related to investments in renewable energy sources, the development of distribution networks, the construction of energy storage facilities and investments in the heat sector.
As announced, in accordance with the agreement, from the date of its conclusion, Tauron will be able to use PLN 1 billion (EUR 235.6 mln) obtained under Tranche A after meeting the standard conditions precedent for this type of financing.
Tauron stated in Wednesday announcement that Tranche B will be repaid in instalments over a period of up to 7 years from the date of its release, but no later than October 20, 2033.
doa/ ao/ han/