PGE RAILWAY ELECTRICITY DISTRIBUTION (EIB-20230626)

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
Warszawski stoleczny region, and others
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 Investment Bank (EIB)
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
U
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."
Borrower
PGE Energetyka Kolejowa SA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Infrastructure
  • Transport
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)
$ 238.87 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 950
Converted using 2023-12-15 exchange rate.
Loan Amount (USD)
$ 238.87 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 PLN 950 million
Converted using 2023-12-15 exchange rate.
Project Cost (USD)
$ 477.74 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 PLN 1900 million
Converted using 2023-12-15 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Jan 12, 2024

Disclosed by Bank Dec 15, 2023


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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 EIB, the project aims to build and modernise train power stations and control rooms. This includes creating power lines and the needed infrastructure to provide electricity for the railway network in Poland.

The project is expected to provide the power for electrified lines and to increase the capacity (additional power) and reliability of the rail traction energy supply installations. Indirectly the project is expected to increase the quality of rail services provided in Poland as well as promote travel by rail and should, thereby, enhance sustainable transport in line with EU objectives.

The project will be located in Poland, the majority of investments in less developed regions, with the exception of investments in the Warszawski stoleczny region, and is, therefore, eligible under Article 309 of the Treaty on the Functioning of the European Union (TFEU), point (a) projects for developing less-developed regions. Investments are located along the railway lines throughout Poland which in most cases form part of a comprehensive or core TEN-T railway network.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
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 on the company's website, PGE Energetyka Kolejowa S.A. is one of the largest power companies in Poland. We connect railways with the country's energy system. We take care of the reliability and quality of energy and fuel supplies for rail transportation. As an infrastructure company, we own a distribution network and 20 fuel stations throughout the country. We supply energy to individual equipment and ultimately to trains. We also provide electric power services. Our entire infrastructure is supervised by more than 4,000 of our employees organised in 5 distribution and service areas and 5 service plants throughout the country.
In 2023, the company was acquired by PGE Group, a state-owned public power company and the largest power producing company in Poland, listed on the Warsaw Stock Exchange.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
PGE Polska Grupa Energetyczna SA Parent Company Energy owns PGE Energetyka Kolejowa SA 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.

No project contacts provided at the time of disclosure.

Client - PGE Energetyka Kolejowa SA:

Address: 00-681 Warszawa, Hoza 63/67
Email: bok.pgeek@gkpge.pl
Phone: +48 801 77 29 29
Website: https://pgeenergetykakolejowa.pl/

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address: complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces

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