PGE says Shangai Electric placed lowest bid for its Polish power plant (updated)

Doosan

15/11/2013 16:36

(Adds company confirmation) WARSAW, Nov 15 (Reuters) - China's Shanghai Electric 601727.SS  has placed the lowest, 3.09-billion zloty ($992 million) bid to build a 430-450 megawatt lignite-fired unit for Poland's largest utility PGE  PGE.WA , PGE said on Friday. PGE confirmed an earlier Reuters report, adding that a consortium of Hitachi Power Europe and Polish builder Budimex BDXP.WA  had offered to build the unit for 3.997 billion zlotys, while Doosan Power Systems  000150.KS  bid was 4.012 billion. Poland's coal-reliant energy sector requires heavy investment, because many plants are past their prime. The new unit at PGE's Turow plant in south-western Poland is designed to replace older ones in the plant in five years. PGE had cancelled a previous tender to build the Turow unit after Alstom offered to build it for 3.8 billion zlotys, which was above the utility's budget and analysts expected PGE not to accept the offer.  ID:nL5N0CJ3KJ  ($1 = 3.1141 Polish zlotys) (Reporting by Pawel Bernat; Writing by Adrian Krajewski; Editing by David Evans) ((adrian.krajewski@thomsonreuters.com)(+48 22 653 97 09)(Reuters Messaging: adrian.krajewski.thomsonreuters.com@reuters.net)) Keywords: POLAND PGE/