ENGIE sells its Polaniec power plant to Enea

By ENGIE - 23 December 2016 - 09:13

ENGIE is announcing today the signing of the agreement with Enea, a state-owned Polish utility company, for the acquisition of 100% of its shares in ENGIE Energia Polska, the owner of the Polaniec Power Plant in Poland.


Polaniec Power Plant is one of the most efficient electricity generators in Poland, consisting of 7 coal units and 1 biomass unit with a total gross capacity of 1.9 GW.


The amount of the transaction represents an enterprise value of approximately €250 million.


ENGIE focuses its development on low carbon activities, gas infrastructures and integrated customer solutions, and it has decided to progressively withdraw from coal activities. As part of that objective, the Polaniec transaction reduces ENGIE’s CO2 emissions by 6.2%.


All of ENGIE Energia Polska employees will join Enea Group. ENGIE will pay a close attention to its people, supporting them during this transition.


Note: this transaction is still subject to the approval of the Polish Ministry of Energy, the agreement of the Antitrust authorities and the Waiver of the preemption right from the Agricultural Properties Agency.


ENGIE remains active in Poland in wind energy generation as well as in providing solutions to enterprises, cities and territories. In particular, ENGIE continues its development in the field of services offered to Polish municipalities. Our contract with the city of Opalenica demonstrates our long term involvement being responsible until the end of September 2031 for deep energy modernization of municipal buildings and energy management services through innovative digital technologies. In Poland, ENGIE has been playing a major role in the energy market for more than 20 years. With almost 700 employees, our company will continue to offer services, solutions and expertise to public institutions, private investors, industrial clients and international customers.


ENGIE develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation, and the rational use of resources. The Group provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 154,950 people worldwide and achieved revenues of €69.9 billion in 2015. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, DJSI World, DJSI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).