Renewables have become more cost-competitive: expert

While Poland has partially subsidised electricity bills to offset CO2 emissions charges for electricity generated from coal, the head of Central Europe and the Baltics at the EBRD Grzegorz Zieliński suggests there is light in the tunnel as the cost of renewable energy is coming down.

The EBRD has prioritised green energy, innovation and capital markets in its new strategy for Poland, Mr Zieliński told PolandIN’s David Kennedy. The bank engages over EUR 600 mln in Polish projects annually, of which around a third is focused on renewable projects.

The bank’s definition of renewable energy also includes aspects like the generation of energy from biomass and refuse incineration, and not just “clean” energy sources, such as wind power or solar.

The EBRD has operated in transition economies since it was founded in 1991. Poland is now classified along with the Czech Republic, Hungary, Slovakia, Croatia and Slovenia and the Baltic countries, as “advanced transition” economies, which are overseen by the Warsaw office.

The EBRD in Poland currently has a portfolio of projects worth over EUR 3 bn.

To watch the full interview, click here.