Poland's state-owned utility Energa (Gdansk, Poland) plans to spend $2.16 billion by 2015 to extend its power distribution network and introduce smart grid technology, the company said in a statement on Monday.
The utility plans to build 8,200 kilometers of new grid and modernize an additional 4,200 kilometers.
"We will continue to identify most promising areas for investing, including development of smart grid elements. Increase in investments is possible thanks to financing from international financial institutions," Rafal Czyzewski, head of Energa's distribution arm said in the statement.
Energa is the smallest of four Polish state-controlled utilities.
Last year, Poland sold its 84% stake in Energa to its other state-controlled utility PGE for $2.5 billion, but the transaction was blocked by the anti-monopoly watchdog UOKiK, who said the merger would harm competition.
PGE appealed the decision and is now awaiting a court ruling.
($1 = 2.776 Polish Zlotys) (Reporting by Patryk Wasilewski; editing by James Jukwey)