Poland’s energy holding company TAURON and oil and gas group PGNiG signed a letter of intent regarding the possible sale of shares for the power plant Elektrociepłownia Stalowa Wola (ECSW) by the Tauron Group to the PGNiG Group. In September last year, the companies launched a 450 megawatts (MW) gas unit in Stalowa Wola and, currently, both companies own 50 per cent of ECSW shares each.
“ECSW is a modern gas unit that meets very restrictive environmental standards, the operation of which over the next several dozen years is important for the stabilisation of Poland’s energy security,” said Jerzy Topolski, Vice-President of the Management Board of TAURON Polska Energia. “Therefore, for our employees, the possible sale of our shares will have no consequences. PGNiG is a strong, stable and modern company for which modern gas-powered units are important in the context of the growing use of natural gas in Poland. The purpose of selling shares in ECSW is to organise TAURON’s ownership portfolio, which will allow for the improvement of operational management and optimisation of gas fuel use within TAURON Group.”
The CCGT unit in Stalowa Wola works in cogeneration, providing approximately 450 MW of electricity for the national energy system as well as heat supplies to the residents of Stalowa Wola and Nisko.
Thanks to the use of natural gas as a fuel, the Stalowa Wola unit meets very strict environmental standards. Carbon dioxide emission, which is approximately 360 kilograms/megawatts-hour (MWh) is in line with the requirements of the BAT conclusions. The unit is also characterised by a very low emission of nitrogen oxides and practically no emission of sulfur oxides. Additionally, due to the location of the unit in the city centre, it is very important that there is no dust emission.
“Units, such as the one in Stalowa Wola, are the answer to challenges related to the low-emission transition of the Polish economy, of which PGNiG wants to be an important player, contributing to the construction of a strong Polish multi-energy company,” commented Paweł Majewski, President of the PGNiG Management Board. “It is also worth underscoring that ECSW contributes significantly to the improvement of air clarity, and thus the quality of life of citizens of Stalowa Wola and the surrounding area.”
The signed letter of intent does not entail any obligation to conclude a transaction. Such a decision will depend on the results of negotiations in this respect and the fulfilment of other conditions specified in legal regulations or corporate documents.
