Enea with exclusive rights for negotiating the acquisition of Połaniec Power Plant
Implementing Enea Capital Group’s Development Strategy until 2030, Enea took another step towards the acquisition of 100 per cent of shares from ENGIE in ENGIE Energia Polska, the owner of Połaniec Power Plant. During the conducted talks Enea obtained the exclusive rights from ENGIE to conduct further negotiations. The exclusive rights granted to Enea will be valid until the end of 2016.
Enea is an optimum investor for Połaniec Power Plant. A potential takeover by Enea of Połaniec Power Plant would allow for the development of a cost and operation-efficient area of energy generation based on own material, which would build the Group’s competitive advantage on the energy market. Due to that, Enea Group would strengthen the position of one of the leading energy producers in Poland and of a reliable supplier. Enea is also the complementary investor - the assets held by the Group, namely Kozienice Power Plant and LW Bogdanka, if 100 per cent of shares in ENGIE Energia Polska are acquired, will enable the utilise numerous synergies.
– An efficient model of integrating the mining and generation areas is one of the key tasks of vertically integrated raw materials and energy groups which include Enea. Our pursuit to acquire the system generating assets owned by ENGIE Energia Polska is part of one of the crucial points in our strategy – increase in the installed capacity of conventional sources of generation on which we will base higher electricity sales, properly balancing these two parameters inside the Group – said Mirosław Kowalik, president of Enea.
Połaniec Power Plant is one of the most efficient electricity generators in Poland. An important element of the assets is a modern biomass unit - one of the largest units of this type in the world (over 200 MW) generating green energy. In recent years, Połaniec Power Plant has implemented an intense modernisation programme, increasing the efficiency of energy generation and adjusting the generating equipment to the environmental standards in force. Połaniec Power Plant also has much in common with Kozienice Power Plant owned by Enea. Both power plants are very important to the Polish power system security and generate energy using 200 MW units. The key supplier of the raw material to Połaniec and Kozienice is Lubelski Węgiel Bogdanka. Additionally, Połaniec Power Plant belongs to a group of younger system power plants in Poland - the first unit commenced operations in 1979, and the last, eighth one, in 1983.
– Acquiring the controlling interest in LW Bogdanka Enea confirmed that a proper integration of coal mining and energy generation is viable. Becoming a part of the Polish energy policy, we wish to guarantee that the energy security of Poles, our Customers, is based on national raw materials. The investment in Połaniec is the implementation of this vision in our Group. If our purchase offer meets the acceptance, we may take over the power plant in which the generation is based on the coal mined in our Group – emphasised Mirosław Kowalik.
On 30 September 2016 Enea submitted an offer for the purchase of 100 per cent of shares in ENGIE Energia Polska, the owner of Połaniec power plant. The offer was submitted compliant with the process initiated by ENGIE, the owner of ENGIE Energia Polska, which is considering the sale of 100 per cent of the shares of the company.
ENGIE Energia Polska is currently the fifth largest producer of electricity in Poland. Together with ca. 1.9 GW Połaniec power plant the company accounts for 5 per cent of electricity generation in Poland.
Enea Group is one of the leaders of the Polish power market. It manages the complete chain of values: from coal in the mine to a socket at Customer’s home. It is responsible for reliable supplies of energy to 2.5 mln Customers.