NRP funds support the energy transition. Over PLN 200 million for KGHM

Bank Gospodarstwa Krajowego (BGK) granted a loan to KGHM Polska Miedź S.A. in the amount of PLN 209 million. The company will use it to finance the construction of four photovoltaic plants with a total capacity of 94 MW. This is another renewable energy investment project that has received funding from the Energy Support Fund as part of the National Recovery and Resilience Plan (NRP).

The photovoltaic plants planned for construction by KGHM will be built on land owned entirely by the company. The energy produced will be used entirely for core business needs. The project will contribute to an increase in the volume of electricity consumed from RES, a reduction in the carbon footprint of end products and the consistent implementation of the decarbonisation programme of KGHM. Developing own resources and zero- and low-carbon generation sources by ensuring a sustainable supply of own low-cost electricity is expected to provide KGHM with greater independence from fluctuations in market electricity prices. This will increase the security of electricity supply not only in the KGHM Group, but also in the Lower Silesian power system. The investment projects will be carried out in the Lower Silesian  Voivodeship, in the districts of Polkowice, Lubin and Bolesławiec.

‘The loan agreement signed between BGK and KGHM demonstrates that funds from the Energy Support Fund are supporting Poland's energy transition in a complementary way. The construction of photovoltaic power plants, which generate energy for the industry’s own use, promotes the stabilisation of fixed costs and enables companies in the sector to achieve ambitious carbon reduction targets. Diversifying generation sources in the industry and replacing conventional fuels with RES also means strengthening the resilience of companies that are strategic to the Polish economy,’ says Prof. Marta Postuła, First Vice-President of the Management Board of Bank Gospodarstwa Krajowego.

‘The funds obtained from the Energy Support Fund will allow us to secure competitive financing for the implementation of four photovoltaic system projects. This represents a further step towards achieving the goals of the energy transition, which is a major challenge for KGHM as one of the largest consumers of electricity in Poland. Expanding the base of our own carbon-free generation capacity will strengthen the energy security of KGHM and contribute to the achievement of ambitious decarbonisation targets. The carbon footprint of our main products is already lower than the average of global indices,’ says Remigiusz Paszkiewicz, acting President of the Management Board of KGHM Polska Miedź S.A.

The pool of funds for loans from the Energy Support Fund is PLN 67.2 billion. Bank Gospodarstwa Krajowego has already contracted more than 90 per cent of the allocated funds. In total, for the purposes of energy transition and adaptation to climate change, the Polish development bank has already signed contracts for NRP funds for a total amount of nearly PLN 84 billion.

***

KGHM Polska Miedź S.A. is an integrated copper producer with its own mineral resources, mines, concentrators and metallurgical plants, producing copper both in the form of cathodes and copper wire rod. The company is the largest producer of mined copper in Europe and is a member of the elite group of 10 largest copper producers in the world. According to the World Silver Survey 2025 ranking, the company is the 2nd largest silver producer globally. KGHM's metallurgical plants hold the prestigious Copper Mark certification, which is a confirmation of efficient copper metallurgical production that meets the highest standards.

Bank Gospodarstwa Krajowego is a Polish development bank that supports the sustainable economic and social development of the country. BGK is the only institution of its kind in Poland. For more than 100 years BGK has financed investments in infrastructure, housing and entrepreneurship. It also engages in strategic initiatives such as national security and energy transition. The bank works with both the public and private sectors to mobilise capital to finance projects that address key national challenges. It also plays an important role in the use of EU funds and the National Recovery and Resilience Plan.