ENEA has PLN billion for new investments

The Company and Bank Gospodarstwa Krajowego concluded a programme agreement relating to the issue of long-term bonds valued PLN 1 bln. The objective will be financing current operations and investment needs of ENEA Group. The Agreement was signed on the site of the key project for ENEA, namely the construction of the 1,075 MW unit in Kozienice. The ceremony was attended by the Minister of Treasury, Włodzimierz Karpiński.

The bond issue programme was concluded for the term of 12 years and 7 months and ends on 15 December 2026. The programme availability term, within which bond issues will be performed, expires on 15 December 2016. The agreement was signed in an exceptional place, on the site of the investment which is important for the energy security of Poles. In Kozienice power plant a coal unit is being constructed which is the most modern on an European scale, which will fulfil all, even most strict ecological standards. This is however not the end of the Group's ambitious plans. Till 2020 ENEA will invest as much as PLN 20 bln.

- The Group is ready for further development and investing both in conventional, cogeneration and renewable energy generating sources, and in the segment of distribution, on which the quality of customer service depends. Our investments are not decisions whose effects we will see only today or tomorrow. Due to their scale and momentum we think of them in the perspective of the coming decades - says Krzysztof Zamasz, President of the Board of ENEA S.A.

An efficient obtaining of funding is one of the key tasks on which the development of the Group depends, but also the success of the modernisation of the Polish energy sector and strengthening it in the light of an unstable international situation.

- For many months we are implementing the Polish Investments Programme, financing large and small enterprises which are significant for our economy. The today's transaction perfectly describes this programme and the tradition of our bank. When in the 20s of the previous century Poland regained its independence, BGK helped reconstruct the Central Industrial Region, city and port of Gdynia, supported the Polish industry and infrastructural investments. Today, implementing such transactions as ENEA projects, we are returning to the roots - said Dariusz Kacprzyk, President of the Board of BGK.

Each day in Kozienice over 500 people are building immense structures. The site of the power plant is changing each day. Two communication pylons are the most characteristic along with the round evaporating tower noticeable form the distance, which will ultimately reach 185 m height with a diameter of 146 m. It was the background on which the today's agreement was signed.

- There is no doubt that we need new megawatts, and our economy is largely dependant on coal. These are undeniable facts that here in Kozienice, and also Jaworzno and Opole, are used for business purposes. Thanks to such projects we modernise and reconstruct the potential of the Polish energy sector and guarantee power supply reliability. Till 2020 state owned enterprises will invest PLN 60 bln in the energy sector. ENEA will have a considerable share in such investments. The company's plans for the coming 6 years are valued PLN 20 bln. The memorandum of understanding concluded today with BGK increases investment possibilities of the Group - said Włodzimierz Karpiński, Minister of Treasury.

After the completion of the construction in Kozienice 13% of the Polish electricity will be generated here. Every ninth Pole will receive power from Kozienice. Energy will be obtained from bituminous coal, which is an inseparable part of the discussion on the energy security of Poland. New technologies guarantee an unprecedented efficiency with minimised consequences to the natural environment. Thus, ENEA is responsible for a growing demand for electricity in Poland and the risk of its deficiency. What is important is that the investment was planned in a way guaranteeing its profitability.

- I am very happy that Kozienice Power Plant - a pillar of the Polish energy sector - is developing and updating. This is a source of our energy security and a very important place also for the local society - said Jacek Kozłowski, the Mazowieckie Province Governor.

Works in Kozienice are on schedule. At the end of Q1 the construction reached almost 30% progress, and it will be 65% till the end of the year. Collectively, by the investment around 2,500 people will be employed, and subsequent 200 people will be engaged to operate the commissioned unit. This is important information for citizens and a real benefit for Kozienice and other municipalities in the vicinity.

ENEA Capital Group is a modern generator, seller and distributor of electricity. Its Customers count almost 2.4 mln and it has 12.5% share in sales on the retail market of electricity in Poland. Its distribution network covers 1/5 of the area of Poland, mainly the following provinces: Wielkopolskie, Kujawsko-pomorskie, Lubuskie and Zachodniopomorskie. Almost 8% of energy generated in Poland comes from the Group's power plants. ENEA Wytwarzanie S.A. in Kozienice is the largest in Poland producer of power from bituminous coal.