Tauron is borrowing EUR 54 million to construct solar and storage facilities in Poland.

Polish utility Tauron Polska Energia (WSE:TPE) announced today that its green energy division has secured a loan of PLN 227.1 million (USD 62m/EUR 54m) through the National Recovery and Resilience Plan (KPO).

This loan will be utilized by Tauron Zielona Energia specifically for the expenses related to constructing three photovoltaic (PV) farms and an energy storage facility, along with the necessary infrastructure, as stated in a press release from Tauron.

The funds provided by Polish development bank BGK have a variable interest rate set to the National Bank of Poland's reference rate minus 2 percentage points annually, but not less than 1 percentage point per year. The repayment of the loan is planned in semi-annual installments from 2032 to 2046.

This financing will aid in the growth of the group's renewable energy sector, which Tauron highlighted as a key focus area. The company recently mentioned plans to develop two PV farms with a combined capacity of 140 MW in 2026, in addition to several battery energy storage facilities exceeding 300 MW.