President Obama ended his Europe trip in Poland where he hopes to highlight security and energy talks, as well as joint efforts in promoting democracy across Eastern Europe. Greater cooperation between the two countries could benefit Poland’s economy and related exchange traded fund (ETF).
Mr. Obama and Polish Prime Minister Donald Tusk are seeking to cooperate on Poland’s further advances in renewable energy technologies and to strengthen joint climate security strategies, reports Jen Balboa for EcoSeed. The exchange between the two heads of state is expected to increase U.S. investments, exports and participation in tech tenders in Poland.
Poland generates over 90% of its electricity from coal plants, but the government plans on generating 8.85% of its energy through renewables. The E.U. has set a target to have Poland switching to 15% of its energy from renewables by 2020.
Iwona Chojnowska-Haponik, director of the agency’s foreign investment department, stated that Poland’s energy industry looks like a “sector of opportunity” that may lead to higher investments, specifically in the area of shale gas, reports Katya Andrusz for BusinessWeek.
Poland’s government is trying to diversify out of its dependence on coal and imported natural gas from Russia by dabbling in other energy sources. The country has also shown interest in building a nuclear power station, which has also attracted a lot of investment interest.