Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Countries

Poland

Geographic location where the impacts of the investment may be experienced.

Specific Location

Lodz

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Proposed

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Feb 26, 2025

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Veolia Nowa Energia sp. z o.o. (Veolia Energia Polska S.A.)

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Energy
Infrastructure

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 107.35 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 414.2
Converted using 2024-09-04 exchange rate.

Loan Amount (USD)

$ 107.35 million

Bank Documents

Primary Source

Original disclosure @ EBRD website

Updated in EWS Dec 29, 2024

Disclosed by Bank Sep 3, 2024

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Can you contribute information about this project?
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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the EBRD, the project consists of a senior secured loan and related debt service reserve facility (DSRF) of up to PLN 414.2 million (c. EUR 97 million equivalent) in favour of Veolia Nowa Energia sp. z o.o. ("SPV") to support the construction and operation of an energy recovery facility, which will produce heat and electrical energy in the city of Lodz in Poland. The Project is being developed by Veolia Energia Polska S.A., a subsidiary of Veolia Environnement SA, a French multinational corporation engaged in water, energy and waste recycling management services. The EBRD's financing is expected to be provided alongside other financial institutions.

The Project seeks to: a) ensure sustainable heat supply for the City's inhabitants, b) contribute to addressing waste management in the region, and c) support ongoing efforts by Veolia and the City to reduce dependence on coal in Veolia's and Lodz's energy mix. Once constructed, the Project is expected to generate approximately 444,600 MWh of heat annually.

The Project involves the construction of a combined heat and power production plant, an ERF, fuelled with refuse-derived fuel ("RDF") and solid recovered fuel ("SRF"), and producing electrical energy in high-efficiency cogeneration,. It is a key step in Veolia's efforts to replace coal in its energy generation mix. The Project is expected to significantly reduce the scope 3 emissions.
The Project will be located in eastern Lodz, Widzew district, in the northwestern part of an idle land site, adjacent to the existing coal-fired Combined Heat and Power (CHP) plant EC4 ("Site"). The Site is located within an industrially developed area, in the City's outskirts and away from residential and nature protected areas. The Elektron Family Allotment Gardens are approximately 90 m to the north of the Site's boundary and the closest residential developments are located 600 m from the Site. The Project will incinerate RDF and SRF with a capacity to produce 57 MWth and 18.6 MWe.

The Bank will participate in the long-term loan facilities syndicated among other commercial lenders.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the EBRD, the client, Veolia Nowa Energia sp. z.o.o., is a limited liability company incorporated in Poland and ultimately indirectly owned by Veolia Environnement SA. Veolia has a strong presence in Poland and manages district heating networks.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
Veolia Environnement S.A.	Parent Company	Energy	owns	Veolia Energia Polska S.A.	Client	Energy

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Veolia Nowa Energia sp. z o.o. (Veolia Energia Polska S.A.):

Robert Warchol
Email: wnioski.zoelodz@veolia.com
Phone: +48 42 675 56 92 (Landline)
Website: www.nowaenergiadlalodzi.pl
Address: ul. J. Andrzejewskiej 5, 90-975 Lodz

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html