Polish Briefing 3 June, 2020 9:00 am   
COMMENTS: Mateusz Gibała

Polish Briefing: “Ostrołęka C power plant should convert coal into gas. Orlen can become its partner”

What goes on in Poland on the 3rd of June.

Final analysis: Ostrołęka C power plant should convert coal into gas. Orlen can become its partner

Enea and Energa have completed detailed analyzes of the Ostrołęka C Power Plant project. They showed the legitimacy of switching fuel to gas. Enea, Energa and PKN Orlen also concluded a trilateral agreement on June 2, which sets out the guiding principles for further cooperation on this project, including possible participation of PKN Orlen as a partner.

PKN Orlen declared participation in financing the construction project of Ostrołęka C Power Plant and joining the investment as a partner. – The condition for further actions will be the use of gas-based technology and obtaining the necessary corporate approvals – emphasizes the Płock company.

PKN Orlen has joined an agreement with the current project owners, i.e. Energa and Enea. It assumes that ultimately changes will be made to the organizational structure of Elektrownia Ostrołęka after obtaining the necessary corporate approvals. Pursuant to the provisions of the agreement, PKN Orlen will not participate in settlements with existing investment contractors, these are to be settled on the terms agreed between Enea and Energa. As the target partner of the project, however, it is to co-decide on their scope. – The conclusion of the agreement opens the way for further talks between partners regarding investments, as a result of which an investment agreement will be concluded regulating in detail the principles of management, including control over the investor, financing and implementation of the investment. The agreement also limits Enea’s participation and financial commitment. Regardless of the content of the agreement, it cannot be ruled out that this project will be implemented with the participation of other investors – says Orlen’s press release.