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Home › Dodgy Deals ›
Dodgy Deal
Enea GroupPoland

Company – On record

This profile is no longer actively maintained, with the information now possibly out of date
Contact:

climate@banktrack.org

Last update: 2020-02-07 13:31:36
Enea Group head offices in Poznan. Photo: Enea

Company – On record

This profile is no longer actively maintained, with the information now possibly out of date
Contact:

climate@banktrack.org

Last update: 2020-02-07 13:31:36
Why this profile?

Why this profile?

Enea is a Polish energy utility which owns a hard coal mine and over 6GW capacity in coal units, is constructing a new 1GW coal unit in Ostrołęka and plans to develop gas capacities. It does not have a climate policy and its strategy of reducing CO2 emissions is incompatible with IPCC recommendations, the Paris Agreement and the European 2050 net zero goal. 

About
Sectors Coal Electric Power Generation, Coal Mining, Electric Power Distribution
Headquarters
Ownership
listed on Warsaw Stock Exchange

51.5% of Enea is owned by the Polish state. Other major shareholder include OFE PZU Złota Jesie (4.98%), OFE Aviva Santander (3,84%) and OFE Nationale-Nederlanden (3,47%). Enea's complete share holders structure can be viewed here.

Subsidiaries
Bogdanka – Poland
ENEA Wytwarzanie S.A. – Poland
Website http://www.enea.pl

The Enea Group is a Polish coal mining and power company based in Poznan. Enea operates in several sectors of the energy market: coal mining, generation of electricity, energy distribution and energy trade. It has separate subsidiaries focused on each of these areas.

Enea owns the Bogdanka coal mine which produces 9 million tonnes of coal annually, 2 large hard coal power plants Kozienice (4 GW) and Połaniec (1,8 GW), and is constructing a new 1 GW unit Ostroleka C. Founded in 1904, the company is among four largest energy group in Poland. In September 2017 it held assets totalling PLN 25.75 billion (USD 7.53 billion).

Impacts

Social and human rights impacts

Several of Enea Group's operations are responsible for severe adverse impacts on the health of local people:

  • Enea's Kozienice coal power plant was responsible for an estimated 650 premature deaths, 320 cases of bronchitis and 186,500 days of absence from work in 2013, and health costs due to pollution caused by this plant amounted to an estimated EUR 920 million in 2013 (Europe's Dark Cloud, 2016). Greenpeace estimates that the new unit at Kozienice (planned capacity of 1,000 MW) will result in an estimated additional 72 premature deaths and 16,352 days off work annually (Greenpeace Poland, 2013);
  • The pollution effects of Enea's Polaniec coal power plant result in an estimated 178 premature deaths each year (Lifting Europe's Dark Cloud, 2016);
  • The planned Ostrołęka C coal power plant will be, over its projected lifetime of 40 years, responsible for an estimated 900 to 2,000 premature deaths, 280 to 620 cases of chronic bronchitis in adults, 1,300 to 3,000 cases of bronchitis in children, between 190,000 to 420,000 days of sick leave and 100,000 asthma attacks in children (estimated statistics taken from the analysis 'Study on the health impact of the planned Ostrołęka C unit').

Environmental and climate impacts

Coal combustion has strong adverse impacts on the environment and climate. In 2018 Enea's overall production of 26,5 TW energy resulted in emission of 22,6 million tones CO2. These pollutants are responsible for having major adverse climate change impacts, as well as on the environment and public health.

Enea is one of the 10 most emission-intensive companies in the EU. In 2019 its Kozienice Power Plant ranked 5th among Europe top emitters (no. 1 hard coal power plant), having emitted 14,88 million tons CO2 - more than Ryanair's annual emissions.

Enea is also buliding a new 1 GW coal power plant Ostrołęka C which would emit about 6 million tons of CO2 annually.

The utility has no climate policy or decarbonisation strategy. Enea's schedule of its coal units decomission is at odds with the Paris Climate Agreement, the recommendations of the Intergovernmental Panel on Climate Change (IPCC) and EU 2050 climate neutrality goal. Although Enea assured that the shutdowns of old units in Kozienice would start as early as 2016, this date has been postponed to 2029 with a 230 MW unit planned to be shut down in 2032, two 560MW units in years 2041-42 and 1 GW unit to be operating until 2050. A total of 1,5 GW capacity of Połaniec coal power plant is to be decomissioned in 2034, its remaining unit in 2042. Ostrołęka C (currently suspended) would emit greenhouse gases until 2064.

Secondly, producing energy from coal requires heavy usage of water. In Poland, 70 per cent of water usage is used for the production of energy from coal, compared with the EU average of 13.7 per cent. Kozienice plant can use almost 100 m3 coolin water. In order to increase access to water for Kozienice, Enea is planning to build a dam on the river Vistula. The interruption of the ecological continuity of the Vistula will have direct negative impacts on at least six Natura 2000 areas within the basin of the upper Vistula in which Atlantic salmon are protected.

Bypassing the law, Enea has already built a threshold on the Vistula River for Kozienice Power Plant, which has become a physical barrier to endangered and protected fish species including those protected under the European Natura 2000 network.

The company's operations are also linked to several incidents of accidental pollution. In June 2014, a failure in the Kozienice power plant resulted in oil flowing into the Vistula river (wiadomosci.dziennik.pl). In the winter of 2016 thousands of dead fish were found near the water intake in the area of Enea's Polaniec power plant. Their deaths may have resulted from the hot water discharge by the plant (echodnia.eu).

Financiers

The Enea Group has received finance from several financial institutions. A list of bonds underwriting and corporate loans (Enea's 2017 annual report) can be viewed below. The five bonds issued are:

  • PLN 3 billion (expires 2020), led by PKO BP, Bank PEKAO, BZ WBK, Bank Handlowy
  • PLN 1.0 billion (expires 2026) and PLN 0.150 billion (expires 2027), led by BGK
  • PLN 1.5 billion (expires 2021), led by ING Bank Slaski, PKO BP, Bank PEKAO, mBank
  • PLN 301.911 million (expires 2018), led by Bank PEKAO
Institution type
Finance type
Year
Projects
There are no active project profiles for Enea Group now.

Ostroleka C power plant

Poland
Project
On record
Coal Electric Power Generation | Gas Electric Power Generation

Ostroleka C power plant

Poland
News
BankTrack
Partners
Blog
External
BankTrack news BankTrack blog Partner news Partner blog

CBA in the house of a PiS MP. Detention of persons associated with the Ostrołęka Power Plant

2020-09-08 | Poland | Polish News
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Depreciation and provisions for Ostrołęka C will reduce Enea’s net profit for the first half of 2020 by PLN 647 million

2020-08-11 | Poland | vaaju.com
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Depreciation and provisions for Ostrołęka C will reduce Enea’s net profit for the first half of 2020 by PLN 647 million

2020-08-11 | vaaju.com
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The Client Earth Foundation wins with Enea on the Ostrołęka power plant case

2020-07-09 | Poland | BiznesAlert
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The Client Earth Foundation wins with Enea on the Ostrołęka power plant case

2020-07-09 | Poland | BiznesAlert
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Polish Briefing: “Ostrołęka C power plant should convert coal into gas. Orlen can become its partner”

2020-06-03 | Poland | BiznesAlert
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PLN1 billion hit for companies as Poland’s newest coal project becomes stranded asset

2020-05-21 | Poland | WorldCoal
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Polish energy giants abandon coal-fired power plant project. Has the country turned a corner?

2020-05-21 | Poland | Emerging Europe
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Energa and Enea valued coal Ostrołęka C at 0 PLN

2020-05-20 | Poland | BiznesAlert
BankTrack news BankTrack blog Partner news Partner blog

Energa and Enea valued coal Ostrołęka C at 0 PLN

2020-05-20 | Poland | BiznesAlert
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Poland's PKN prefers gas as fuel for new Ostroleka power plant

2020-05-19 | Reuters
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Kozienice Power Plant ranked not 8th but 5th biggest climate destroyer in the EU. Enea avoids bad PR using "cooking the books" method? (PL)

Kozienice power plant was ranked 8th in EMBER's annual ranking of the biggest European climate destroyers. It should be in 5th place but in the EU ETS system Enea reports emissions from units 1-10 and 11 separately, as if they were two different power plants. Kozienice remains the most emission-intensive hard coal power plant in Europe.
2020-04-13 | Poland | Elektroproblem Kozienice
BankTrack news BankTrack blog Partner news Partner blog

Back to square one – will the Ostrołęka C power plant run on gas?

2020-02-27 | Poland | BiznesAlert
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Polish Firms Suspend Financing For New Coal Plant, In Latest Sign That King Coal Is Slipping

2020-02-15 | Poland | Forbes, Scott Carpenter
BankTrack news BankTrack blog Partner news Partner blog

Green groups welcome suspension of 1 GW Polish coal plant

2020-02-14 | Montelnews.com
BankTrack news BankTrack blog Partner news Partner blog

Investors welcome Poland's decision to freeze last coal-fueled plant project

2020-02-14 | Poland | Reuters
BankTrack news BankTrack blog Partner news Partner blog

Conclusion of the Memorandum of Understanding on Further Actions within the Ostrołęka C Project between Energa and Enea

2020-02-13 | Energa press release
BankTrack news BankTrack blog Partner news Partner blog

Replacing coal with gas may delay Poland's planned power plant in Ostroleka

2020-02-11 | Poland | Reuters
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Energa & Enea power would have to make potential changes to Ostroleka project asap - dep. minister

2020-01-17 | Poland | PAP biznes
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Energa & Enea power would have to make potential changes to Ostroleka project asap - dep. minister

2020-01-17 | Poland | Polish Press Agency
BankTrack news BankTrack blog Partner news Partner blog

The dream of “Poland’s last coal plant” is turning into a nightmare

2020-01-08 | Poland | News From Poland, K. Baca-Pogorzelska
BankTrack news BankTrack blog Partner news Partner blog

Energa & Enea power will stay course w/ Ostroleka block, still scrounging cash - deputy PM

2019-12-12 | Poland | PAP biznes
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Enea & Energa power reportedly abandon Ostroleka project - media

2019-12-04 | Poland | PAP biznes
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Energa and Enea power may face PLN 8-9 bln in Ostroleka C block cost - DevelopMin

2019-12-02 | Poland | PAP biznes
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Update: Enea & Energa utilities expected to complete Ostroleka C project with outside help - Fitch

2019-11-28 | Poland | Polish Press Agency
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Court win in world-first climate risk case puts future of Ostrołęka C coal plant in question

2019-08-01 | ClientEarth
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Major court win shows power of corporate law to fight climate change

2019-08-01 | ClientEarth
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Polish court rules against Enea coal plant plan

2019-08-01 | Financial Times
Blog
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Commerzbank’s Polish subsidiary under fire for major polluter bond issue

2019-07-16 | Diana Maciaga – Association Workshop for All Beings
BankTrack news BankTrack blog Partner news Partner blog

Shareholders seriously concerned - Enea under fire of questions about the rationale behind Ostrołęka C

Ostrołęka C provoked a heated discussion during the General Meeting of Shareholders of Enea on 20 May 2019. The shareholders are seriously concerned about the growing debt of the company, which, as one of them said, "has been running up a debt to invest in something that does not bring profits".
2019-05-23 | Poland | Association Workshop for All Beings
BankTrack news BankTrack blog Partner news Partner blog

ENEA without environmental decision for the damming still on the Vistula River in Kozienice. Building permit at risk

(article in Polish)
2019-05-08 | Elektrowniakozienice.com
BankTrack news BankTrack blog Partner news Partner blog

Office of Competition and Consumer Protection to control Ostrołęka C?

The Office of Competition and Consumer Protection (UOKiK) was notified of suspected use of practices restricting competition related to PGE's involvement in the Ostrołęka C development.
2019-04-20 | Poland | Association Workshop for All Beings
BankTrack news BankTrack blog Partner news Partner blog

World-first climate risk case launched over major coal plant in Poland

Polish energy company Enea is facing a world-first legal challenge for pushing ahead with a controversial coal power plant despite widespread market concern about its exposure to climate-related financial risks. It is the first time a company will have to defend itself in court over a failure to manage material climate-related financial risk when making a major investment decision.
2018-10-29 | Poland | Client Earth
BankTrack news BankTrack blog Partner news Partner blog

Investor LGIM-lack of funds for Poland's planned Ostroleka coal plant a concern

WARSAW, Oct 17 (Reuters) - Legal & General Investment Management, Britain’s largest asset manager, said it is has serious concerns over Poland’s planned development of a new coal-fuelled power plant in Ostroleka due to unsecured financing for the 6 billion zlotys ($1.61 billion) project.
2018-10-17 | Poland | Reuters
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'Last Coal Plant In Poland' Shows How Carbon Restrictions Can Clean Up Power Sector

As Poland gears up to host the next United Nations climate change summit in December, it is also preparing to build a 1GW coal-fired power plant that could end up costing investors or Polish taxpayers billions of euros.
2018-09-07 | Poland | Mike Scott, Forbes.com
BankTrack news BankTrack blog Partner news Partner blog

New Polish coal plant to become political poisoned chalice

As Energa, one of the four largest energy providers in Poland, prepares to greenlight the construction of the EU's last sizeable hard coal plant, a new report is highlighting that it stands no chance of being profitable, leaving the investment looking more like a political fix for Law and Justice MPs ahead of upcoming local elections.
2018-08-30 | Poland | elektrowniaostroleka.com
BankTrack news BankTrack blog Partner news Partner blog

Ostrołęka C: Burning More Money Than Coal

2018-08-29 | Carbon Tracker
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Poland’s ‘last coal power plant’ faces €1.7 billion loss, analysts say

The planned phase-out of state aid to fossil fuel power generation across the European Union could make the Ostrołęka C coal station project unprofitable within years, according to a new report by Carbon Tracker, a think tank.
2018-08-29 | Poland | Frédéric Simon, EURACTIV.com
BankTrack news BankTrack blog Partner news Partner blog

The last coal power plant in Poland may be only wishful thinking

The Polish Ministry of Energy wants to build a new coal-fired power plant for € 1.5 billion. This project, however, has reached an invincible barrier – no one is willing to finance it.
2018-08-27 | Poland | Rafał Zasuń, Wysokienapiecie.pl
Blog
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Commerzbank tolerates financing of the coal energy sector in Poland

2018-05-09 | Poland | Ecological Association Eko-Unia
BankTrack news BankTrack blog Partner news Partner blog

An appeal to mBank: funding coal affects climate and health

mBank is financially involved in the biggest Polish coal companies, e.g. PGE, ZE PAK, Enea. In 2014, mBank, along with other banks, concluded a programme agreement with Enea concerning bonds issue.
2018-04-16 | Stowarzyszenie Pracownia na rzecz Wszystkich Istot
BankTrack news BankTrack blog Partner news Partner blog

Confirmation by experts – construction of Ostrołęka C power plant planned by Enea and Energa is set to fail

2018-04-13 | Warsaw | Stowarzyszenie Pracownia na rzecz Wszystkich Istot
BankTrack news BankTrack blog Partner news Partner blog

The constructor of the Ostrołęka C power plant has been chosen

The board has chosen the consortium of GE Power and Alstom. The estimated cost is about 6 bln EUR. There are still some formalities that will have to be fulfilled. Ostrołęka C is already a 50/50 project of Energa and Enea utilities. But Energa says that it still wants to find some additional investors and that it's preparing to take part in the capacity market with this planned new plant.
2018-03-25 | Cire.pl
Blog
BankTrack news BankTrack blog Partner news Partner blog

Out of sync with climate reality – the coal mine and coal plant dreams of Poland's two dirty utilities

2018-02-26 | Warsaw | Katarzyna Kubiczek, Ecological Association EKO-UNIA
BankTrack news BankTrack blog Partner news Partner blog

Three groups offer to build Polish 1,000 Mw coal-fired power plant

2017-12-29 | ETEnergyworld.com
BankTrack news BankTrack blog Partner news Partner blog

LW Bogdanka files application for coal mining license from Ostrów deposit

2017-07-17 | Enea Group
BankTrack news BankTrack blog Partner news Partner blog

Enea Trading and Polska Grupa Górnicza signed a letter of intent relating to the cooperation for development of the technology of utilising coal sludge in the energy sector

2017-06-13 | Enea Group
BankTrack news BankTrack blog Partner news Partner blog

Energa : and Enea signed the investment agreement on Ostrołęka C Power Plant

2017-02-01 | 4-Traders.com
BankTrack news BankTrack blog Partner news Partner blog

Poland's 1 GW hard coal Ostroleka power unit approved

2017-01-18 | S&P Global Platts
BankTrack news BankTrack blog Partner news Partner blog

Polish Enea, Energa sign deal to build Ostroleka power plant

2016-12-08 | Reuters
Resources
Documents
Links
2019-06-27 00:00:00

open-source free online calculator of Ostroleka C NPV

NGO document
2019-06-27 00:00:00 | Instrat
2019-06-03 00:00:00

Answers to shareholders’ questions at the General Meeting of ENEA S.A. held on 20 May 2019

Company document
2019-06-03 00:00:00 | Enea SA
2018-12-28 00:00:00

Updated report: Ostrołęka C - next steps for Europe’s last coal power plant

Shortly after the results of Polish capacity market auctions were released, an updated version of the viability study of Ostrołęka C once again showed that burning coal is economic nonsense. Despite a vast subsidy of 2.7 bn PLN (0.6 bn EUR) and 15-year long contract, the unit would still bring no profit at all for the investors.
NGO document
2018-12-28 00:00:00 | Michał Hetmański, Instrat Foundation
2018-11-20 00:00:00

Last Gasp - The coal companies making Europe sick

NGO document
2018-11-20 00:00:00 | Climate Action Network Europe
2018-05-24 00:00:00

The risk analysis related to the Ostrołęka C Power Plant development

by professor Jan Popczyk, Krzysztof Bodzek PhD, Silesian University of Technology
NGO document
2018-05-24 00:00:00 | Stowarzyszenie Pracownia na rzecz Wszystkich Istot
2018-08-29 00:00:00

Ostroleka C – Burning more money than coal

NGO document
2018-08-29 00:00:00 | Carbon Tracker
2018-08-31 00:00:00

Ostrołęka C - next steps for the last Europe’s coal power plant

Michał Hetmański, Instrat Foundation
NGO document
2018-08-31 00:00:00 | Association Workshop for All Beings, Instrat Foundation
2018-05-24 00:00:00

Ostrołęka C – the investment rationale, and why is the project not rational at all

by Michał Hetmański and Filip Piasecki, Instrat Foundation
NGO document
2018-05-24 00:00:00 | Stowarzyszenie Pracownia na rzecz Wszystkich Istot
2013-12-31 00:00:00

Greenpeace Wegiel Zabija (Coal Kills) Report

(in Polish)
NGO document
2013-12-31 00:00:00 | Greenpeace
2016-10-31 00:00:00

Lifting Europe's Dark Cloud

How cutting coal saves lives
NGO document
2016-10-31 00:00:00 | EEB, Climate Action Network, HEAL, Sandbag, WWF
2016-06-30 00:00:00

Europe's Dark Cloud

How coal-burning countries are making their neighbours sick
NGO document
2016-06-30 00:00:00 | Climate Action Network, HEAL, Sandbag, WWF
2017-03-30 00:00:00

Consolidated Annual report 2016

Annual report
2017-03-30 00:00:00 | Enea Group

Ecological Association EKO-UNIA

The Society for Earth (TNZ)

Stowarzysenie Pracownia Na Rzecz Wszystkich Istot

Stop Ostrołęka C Power Plant campaign

Foundation "Development YES - Open-pit mines NO"

Instrat

Elektroproblem Kozienice

Updates

2020

2020-05-20 00:00:00 | Construction halted on Ostroloka C 1-GW coal power plant

Polish energy companies Enea and Energa late on May 19 announced they were ending their involvement with construction of the Ostroleka C coal-fired power plant, after new co-owner PKN Orlen said it would not be involved in the project if it utilizes coal.

2020-05-07 00:00:00 | Extension of the analyses period within the Ostrołęka "C" Project

On 7 May 2020 companies Energa SA and Enea S.A. decided to extend the analytical period regarding further actions of the Ostrołęka “C” Power Plant construction project with a capacity of approx. 1,000 MW, which according to the original assumptions of the utilities, were to be completed by 7 May 2020. The companies assume that analysis will last about a month.

2020-02-14 00:00:00 | Enea and Energa Group announce Ostroleka C coal power plant suspended

The Management Board of Energa announced that on February 13, 2020 an Agreement Concerning Further Activities in the Ostrołęka Project C was concluded between Energą and Enea. They decided to suspend financing for the project for the construction the planned Ostrołęka C coal power plant (Energa press release).

2019

2019-08-01 00:00:00 | Court win in world-first climate risk case puts future of Ostrołęka C coal plant in question

The District Court in Poznań has ruled that the company resolution authorising construction of the EUR 1.2 billion, 1GW coal-fired power plant, a joint venture between two Polish energy companies, Enea and Energa, was legally invalid. This should prompt a major rethink by the companies and their boards, and could spell the end for the costly project, which still lacks over PLN three billion in necessary financing (ClientEarth press release). ClientEarth brought the legal case against Enea over the Ostrołęka C project in October 2018, based on evidence that it poses unjustifiable financial risk to shareholders.

2019-06-27 00:00:00 | Poland's first free online calculator shows coal Ostroleka C’s (un)viability

  Instrat analysts publish an open-source online viability (NPV) calculator of the coal power plant Ostroleka C. So far, four studies on Ostroleka C have been published showing a loss between PLN -2.3 bn to over PLN -6.2 billion negative NPV - much more than the investment CAPEX. The latest update sheds an even more negative light on the project - the baseline scenario suggests a loss of PLN -7.5 bn and electricity price of 500 PLN/MWh (LCOE, 117€/MWh). That is ⅓ more than the electricity cost from photovoltaics (360 PLN/MWh) and almost twice of onshore wind farms (260 PLN/MWh, IRENA). The model gives a detailed overview of the economic situation of all similar new coal-fired power plants in Poland and Europe. The model is based on CC-BY SA 4.0 license.

2019-05-23 00:00:00 | Shareholders seriously concerned - Enea under fire of questions about the rationale behind Ostrołęka C

Ostrołęka C provoked a heated discussion during the General Meeting of Shareholders of Enea on 20 May 2019. The shareholders are seriously concerned about the growing debt of the company, which, as one of them said, "has been running up a debt to invest in something that does not bring profits".

The company's communication of 2 May [on the agreement with Energa on financing the Ostrołęka C project - editorial note] states that the parties undertook to strive to ensure that the results of the Ostrołęka C Power Plant will not be consolidated with their results. Since Enea holds a 50% stake in a project that it does not want to consolidate, it means one thing to me - according to your financial analyses the project is loss-making - commented one of the shareholders.

Read more on the story

2019-04-20 00:00:00 | The Office of Competition and Consumer Protection (UOKiK) was notified of suspected use of practices restricting competition related to PGE's involvement in the Ostrołęka C development.

The Office of Competition and Consumer Protection (UOKiK) was notified of suspected use of practices restricting competition related to PGE's involvement in the Ostrołęka C development.

The case concerns the intention to concentrate on the energy generation market with the participation of energy companies ENEA S.A., Energa S.A. and PGE S.A. in connection with the construction of the Ostrołęka C coal-fired power plant, which was not notified to the Office of Competition and Consumer Protection. On 7 January 2019, in its current report no. 1/2019, PGE S.A. announced its intention to join the construction of Ostrołęka C Power Plant. We could learn more about PGE's talks with Enea and Energa in an article by Karolina Baca-Pogorzelska "Ostrołęka more expensive and... Chinese" published in Dziennik Gazeta Prawna:

As we have established, the recently invited Polish Energy Group (PGE) decided to contribute to the investment, despite the fact that it bears the costs of completing its coal projects in Opole and Turow, and plans to build wind farms in the Baltic Sea. It is speculated that in return, PGE could finally get the green light for consolidation of the energy sector (we wrote about a possible monopoly or energy duopoly a year ago). According to our information, PGE could first "swallow" Energa, the acquisition of which had been blocked by the Office of Competition and Consumer Protection before it obtained stock exchange listing. When asked, PGE replies that it will not comment on any discussions regarding Ostrołęka C.

More on the story

2018

2018-08-30 00:00:00 | New report smashes Ostrołęka C - the power plant shows deep unprofitability

The latest report by Michał Hetmański,Instrat Foundation, "Ostrołęka C - what's next with the last coal-fired power plant in Europe?" shows complete lack of profitability of the largest new coal-fired power plant in the EU and serious legal doubts connected with it. Ostrołęka C can get only 15% of its revenues from the capacity market. Even under optimistic assumptions it will never provide investors with return on the investment. Ostrołęka C requires "adding" at least PLN 2.3 billion throughout its life cycle, i.e. an additional approx. 50% of the construction cost. In the optimistic scenario of a very slow increase in the prices of CO2 emission allowances and rapid rise in electricity prices - the power plant still turns out to be unprofitable. The power plant can generate electricity (LCOE) at a price of 488 PLN / MWh or even 505 PLN / MWh. This is much more than in the case of just recently developing polish wind farms (300), offshore farms (420) and even photovoltaic (440).

2018-08-30 00:00:00 | Extraordinary General Meeting of ENEA S.A. convened for 24 September 2018

On 24 Semptember 2018 a resolution on expressing qualified consent to commence the Construction Stage in the project Ostrołęka C will be put to shareholders vote. The qualified consent is necessary to commence the Construction Stage in the project Ostrołęka C 'consisting in the preparation, construction and exploitation of a bituminous coal fired power unit for supercritical parameters of steam with a gross capacity around 1,000 MWe'.
 

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