ENGIE has announced that it has signed an agreement with Enea for the acquisition of 100 percent of its shares in ENGIE Energia Polska, the owner of the Polaniec Power Plant in Poland.
France-headed energy major ENGIE has announced that it has signed an agreement with Enea, a state-owned Polish utility company, for the acquisition of 100 percent of its shares in ENGIE Energia Polska, the owner of the Polaniec Power Plant in Poland.
According to a statement, the decision to divest its interest in Polaneic is part of ENGIE’s development to withdraw from “coal activities” and focus on “low carbon activities, gas infrastructures, and integrated customer solutions”.
Polaniec Power Plant is one of the largest electricity generators in Poland and currently consists of seven coal-fired units and one biomass unit with a total gross capacity of 1.9 GW. The Polaniec transaction would see a 6.2 percent reduction in ENGIE’s overall fossil carbon dioxide (CO2) emissions.
The transaction represents an enterprise value of approximately EUR 250 million and is subject to the approval of the Polish Ministry of Energy, the agreement of the anti-trust authorities and the Waiver of the pre-emption right from the Agricultural Properties Agency. All of ENGIE Energia Polska employees will join Enea Group.
ENGIE will remain active in Poland in wind energy generation as well as in providing solutions to enterprises, cities, and territories and will continue its development in the field of services offered to Polish municipalities.