Poland's PGE, Enea, Tauron, Energa get government offers for coal assets
15/07/2023 15:58
WARSAW, July 15 (Reuters) - Polish state controlled
power utilities PGE, Enea, Tauron and Energa received offers
from the state treasury for their coal-fired power plants in a
planned overhaul of the energy sector.
The treasury offered 849 million zloty ($214.23 million) for
PGE's mining and generation unit, 2.48 billion zloty for Enea
unit Wytwarzanie, and 153 million zloty for Energa's Ostroleka
power generation unit.
The offer for Tauron Wytwarzanie's unit was a token amount -
1 zloty - along with repayment of some of the company's debt.
Poland plans to spin off the state-owned utilities'
coal-fired power plants into a new state-owned company, NABE,
making it easier for Warsaw to focus on green energy as many
banks steer clear of financing coal-dependent companies.
The move is a key step in the process which was due to be
completed last year but delayed amid negotiations with trade
unions and due diligence.
Under the offer, NABE would have eight years to repay the
debts of PGE and Enea as well as part of Tauron unit's debt.
The companies said the proposed terms will be subject to
negotiation and the deal will only be concluded if all four
utilities agree.
($1 = 3.9631 zlotys)
(Reporting by Marek Strzelecki; editing by Christina Fincher)
((Marek.Strzelecki@thomsonreuters.com;))