European Bank for Reconstruction and Development (EBRD) is likely to grant a $257.2 million loan to a joint venture of Polish gas monopoly PGNiG and utility Tauron, Reuters reports. The funding will be provided for the groups joint gas-fired power operations.

The credit facility will help build and run a combined cycle gas turbine unit, which will be situated in Stalowa Wola in Poland. The project is set to be completed in the next three years.

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