INTESA SANPAOLO: GREEN LOAN OF APPROXIMATELY 175 MILLION EURO FOR THE POLISH UTILITY TAURON
· This is the first significant 'green' transaction of the Tauron Group
· The loan will allow the company to make new investments in renewables and modernise its distribution network
Milan, 28 January 2020 - Intesa Sanpaolo has entered into a loan agreement with the Tauron Group, Poland's largest energy distributor, for approximately 175 million euro over five years. The transaction will support the company's investments in the development of renewable energy and electricity distribution, including the modernisation of its network and connecting new customers with the latest environmentally friendly technologies.
The transaction, which is being managed by Intesa Sanpaolo's Corporate and Investment Banking Division headed by Mauro Micillo – and structured by Banca IMI London and the CIB Division's Warsaw branch - is the first of its kind on the Polish market and represents a true starting point for green financing at a local level.
As a result of this transaction, Tauron is launching its first major 'green' project to support the country's energy transition which is inspired by environmental sustainability principles. The Polish Group also confirms its commitment to achieving the 2025-2030 targets set out in its business plan.
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