Locked content Energa expects PLN 150 mln boost from the new law on renewables

WSE-listed power utility Energa expects to increase its next year’s earning by PLN 150 million due to a new bill on renewables which affects the pricing of certificates of origin, the company said in a market filing. The forecast was built on a substitution fee estimated at PLN 43 per MWh, and inclu...

Locked content Energa to halve the number of subsidiaries

WSE-listed utility Energa plans to trim the number of its subsidiaries, to 22 from the current 48, by the end of Q3 2018, the company’s CEO Daniel Obajtek said. “We have to move towards concentration. Our companies need to increase competencies, employ more people, not only managerial staff but also...

Locked content Energa with PLN 542 mln EBITDA in Q2

WSE-listed utility Energa had a PLN 542 million EBITDA in Q2, according to the company’s financial results, up by 21.8 percent y/y. The company had PLN 174 million net profit in Q2, last year, the company had a PLN 127 million net loss in the corresponding period. The company had PLN 2.48 bill...

Locked content Energa mulls generation acquisitions

WSE-listed, state-controlled power utility Energa is in talks with three potential generation assets regarding the potential takeover, the company’s CEO Daniel Obajtek said. “We are working on strengthening the group in terms of purchase of assets where we would like to be a strategic partner, a maj...

Locked content Energa sues Mostostal for PLN 106 mln

WSE-listed, state-owned utility Energa, through its subsidiary Energa Kogeneracja has filed a lawsuit against WSE-listed builder Mostostal Warszawa. Energa is seeking PLN 106.4 million in damages as it claims that the biomass block with 20 MWe capacity build by Mostostal failed to reach technologica...

Locked content Energa to build largest hybrid storage facility in Poland

WSE-listed power utility Energa along with Japanese Hitachi and power grid operator PSE will build the largest hybrid battery energy storage system in Poland. The facility will have a storage capacity of approx. 27 MWh and power capacity of approx. 6 MW. “Collaboration with experienced partners and ...

Locked content Energa with PLN 601 mln EBITDA in Q1 – preliminary results

WSE-listed utility Energa expects a PLN 601 million EBITDA in Q1, according to the company’s preliminary results. The result, which is a 6.8 percent y/y drop will be influenced by the PLN 53 mln valuation of options for builder Polimex Mostostal shares, the company said in a market filing. Sta...

Locked content Energa to capitalize PGG with PLN 100 mln

WSE-listed, state controlled power utility Energa will capitalize Polska Grupa Górnicza (PGG) with PLN 100 million through its Energa Kogeneracja subsidiary. “This amount will support PGG in expanding its activities and obtaining synergies from incorporation of Katowicki Holding Węglowy’s (KHW...

Locked content PGG – KHW merger approved. Gets PLN 400 mln financing

The management board of Katowicki Holding Węglowy (KHW) approved the transfer of KHW assets to Polska Grupa Górnicza (PGG), clearing one of the final hurdles before the merger is finalized. The transaction is expected to be completed this week. Additionally, two state-controlled utilities, Energa an...

Locked content Energa to get PLN 3.2 bln from EIB

Energa Operator, a subsidiary of state-owned WSE-listed power utility Energa might get over PLN 3.2 billion financing from the European Investment Bank, the ministry of development said. The funds would be spent on modernizing and expansion of distribution grid. EIB has financed 11 investment projec...