Poland to spend EUR 140 mln on geothermal energy

Amid the global debate over the detrimental influence of the energy sector on the environment, the news that Poland’s National Fund for Environmental Protection and Water Management (NFOŚiGW) has PLN 600 mln (EUR 140 mln) to spend on geothermal energy-related projects in Poland could raise one’s spirit.

As part of the “Polish Geothermal Energy Plus” scheme, half of the funds, namely PLN 300 mln (EUR 70 mln), will be distributed by means of donations to private investors, while the rest will be given out in loans.

The NFOŚiGW has put enterprises eligible for funding into the “obligatory” and “facultative” categories. The former includes the construction of heating plants, combined heat and power plants, and geothermal power plants powered by geothermal energy as well as the redevelopment and modernisation of existing ones.

The modernisation and extension of existing sources of thermal energy by the construction of heating plants, combined heat and power plants, and geothermal power plants are also included in the “obligatory” category, along with conducting non-research drilling activities.

The modernisation of heating networks, improving energy efficiency, renewable energy installations and conducting first research drills were categorised as “facultative”.

The “Polish Geothermal Energy Plus” scheme will be carried out from 2019 to 2025, while the signing of contracts has to be concluded by 2023. Entrepreneurs may apply for funding starting from July 3, 2019.

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