The European Investment Bank (EIB) has provided a fourth consecutive financial loan to Poland’s second largest energy producer in an effort to help the country meet its European Union greenhouse gas emissions reduction requirements.

Coal-dependent Poland requires much investment if it is to meet its EU obligations. EIB

The EIB granted a $96m loan to Tauron Polska Energia to help it develop its distribution network and invest in renewable energy, the EIB said in a statement.

“We …welcome this agreement with Tauron, as the project will ensure a secure supply to new customers through the expansion of the company’s electricity network and the roll-out of a smart metering pilot programme,” the European Union’s bank added.

This marks the fourth EIB loan made available to Tauron, totalling $553.4m, to support investments including the construction of a biomass-fired power unit at the Jaworzno III power plant.