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Polish Enea receives purchase of coal generation from State Treasury

Polish energy company Enea Group has received terms of transaction proposal from the State Treasury and its subsidiaries for the acquisition of all shares in Enea Elektrownia Połaniec and all shares in Enea Wytwarzanie, with both subsidiary companies holding all coal power units belonging to Enea (15 July).

Transferring these assets to Poland’s National Energy Security Agency would increase Enea’s green financing options and the implementation of investment plans related to renewable energy, the company said via a press release.

“Receiving the proposed terms of the transaction is a very important step on the way to separating coal generation assets from the Enea Group. Moving away from generating electricity from coal is one of the assumptions of our Development Strategy, thanks to which Enea will be able to implement a plan for the dynamic development of renewable and zero-emission energy sources while ensuring Poland’s energy security. The strategic concept of establishing the National Energy Security Agency is crucial for the success of the transformation of the power sector – this is a historic moment for the Polish energy sector,” said Paweł Majewski, President of Enea’s Management Board.

The company has started its analysis of the proposal, which is non-binding and does not constitute an offer or obligation to conclude any contracts. Possible acceptance of the proposals will depend on obtaining all required corporate approvals, Enea said.

The proposed terms of the transaction will be subject to further negotiations, with an aim to finalise and sign a document summarising the terms of the transaction. The document will be signed only if negotiations between the State Treasury and all parties are completed (Enea, TAURON, PGE, Energa).

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