BAKU, Azerbaijan, March 19. The European Investment Bank (EIB) is providing €146 million to Kronospan, a leading European producer of wood-based panels, to help cut emissions and strengthen energy independence across its Central and Eastern European operations, Trend reports via the EIB.
The financing will support the installation of solar photovoltaic systems—both rooftop and ground-mounted—at Kronospan sites in Poland, the Czech Republic, and Slovakia. It also includes battery storage solutions and the transition from fossil-fuelled forklifts and trucks to electric vehicles.
The project aligns with the EU’s REPowerEU initiative and the EIB’s climate action objectives, enabling a key industrial player to reduce emissions and improve energy resilience. It also contributes to Europe’s housing agenda by securing a sustainable supply of building materials, with most investments targeting cohesion regions to promote regional development.
“Kronospan plays a crucial role in Europe’s housing and construction ecosystem,” said EIB Vice-President Karl Nehammer. “This investment will help the company cut emissions, lower energy costs, remain globally competitive, and support jobs and innovation across Europe.”
The EIB Group is the EU’s financing arm, owned by its 27 Member States, and ranks among the world’s largest multilateral development banks. In 2025, it approved €100 billion in financing and advisory services for over 870 high-impact projects across eight priority areas, including climate action, digital innovation, security, territorial cohesion, agriculture and bioeconomy, social infrastructure, global partnerships, and investment promotion.
The European Investment Fund (EIF), a subsidiary of the EIB Group, focuses on improving access to finance for European SMEs and startups through guarantees and equity investments. Acting as an anchor investor, the EIF mobilizes private capital, supports venture capital funds, and nurtures Europe’s entrepreneurial ecosystem.