State investment vehicle Polskie Inwestycje Rozwojowe (PIR) has signed a letter of understanding with the Municipal Heat and Energy Power Plant (MPEC) in Olsztyn for the construction of a new power plant of 100 MW capacity.
The modernization of the heat and energy plant in Kortowo is also included in the package.
This is the first such project to be undertaken by PIR with a municipal council under a public-private partnership.
The total value of the investment is estimated to be around PLN 600 million, although PIR’s engagement will most likely not be more than PLN 150 million.
PIR is one of two operators of the government’s Polish Investments program, alongside Bank Gospodarstwa Krajowego.
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