Four listed Polish utilities, PGE, Tauron, Enea, and
The new entity to manage the coal assets, the
Demand for coal as a source of energy is expected to diminish in line with Poland’s plan to bring a greater number of cleaner projects online.
The ministry offered PGE to sell its entire stake in coal PGE GiEK for PLN849mn (€191.2mn).
The offer also entails that the entity’s PLN5.4bn, which it owes to the mother company, will be repaid over an eight-year period following the conclusion of the transaction, with 70% of the repayment guaranteed by the state.
Tauron received a symbolic offer of PLN1 for its coal-fired assets within unit Tauron Wytwarzanie.
The state also committed to repay the unit's debt owed to Tauron, which was valued at PLN6.33bn at the end of the third quarter of 2022.
A portion of the remaining debt, PLN2.12bn, will be repaid along the same conditions as offered to PGE.
Enea, the state proposed a sale price of PLN2.48bn for its generation unit Enea Wytwarzanie and PLN632mn separately for one of the company’s power plants.
The PLN2.38bn debt of Enea's units to the parent company will be repaid in the same manner as in the case of other companies.
The state’s offer to the utilities made investors run for their stocks on
Tauron’s stocks rose just over 22% while Enea’s gained over 30%. Orlen-owned
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