The EBRD and the Polish coal sector
Publisher: CEE Bankwatch Network
Volume: 2 pages, pdf
Description:
The Polish energy market is at the crossroads. Almost 90 percent of electricity is produced from coal, and two thirds of installed coal capacity is older than 30 years, and one third is nearly 40 years old1. According to the Public Consultancy Board for the National Programme of Emission Reduction, more than 6 GW of ageing generation capacity, or nearly 20 percent of the total current installed capacity, will need to be taken out of operation by 2015. For this reason massive investments in energy capacity are needed in order to maintain the current levels of energy generation2 and to meet the ever-increasing requirements of EU climate and environmental legislation. It is therefore an opportune moment for international financial institutions to channel investments that support EU climate and energy policy targets and as well the transition towards a resource-efficent energy production model based on renewables.