The new plant will produce annually 139 million litres of bioethanol and 100 000 tons of animal feed as a bi-product using locally grown and imported maize. The projected CO2 emission savings of the project are in line with EU legislation relating to the use of renewable energy for transport.

Marta Gajecka, EIB vice president responsible for lending in Central Europe, said: “The EIB funds will help Poland to meet the specific 10% target for the share of the utilisation of renewable energy in the transport sector by 2020.

“In addition, this project will make Poland less dependent on energy imports and create employment in the rural areas of southern Poland.”

EIB recently made available EUR65m for the construction and operation of two medium-sized onshore wind farms in the north-west of Poland. Energy project loans signed in Poland to date total EUR650m.

The EIB project pipeline in Poland represents lending amount of some EUR3bn targeting the increased use of renewable resources, efficiency increases, the modernisation and upgrading of emissions-reduction facilities, R&D and energy security.