Locked content Energa gets PLN 166 mln finding for smart grid project

WSE-listed, state-owned utility Energa signed a co-financing deal with the Energy Ministry for the development of a smart grid, the company said in a market filing. The project, with an estimated cost of PLN 240.6 million, will receive PLN 166.3 million in state funding. “This is a tremendous suppor...

Locked content Energa plans terminating deals with renewable firms

WSE-listed power utility Energa plans to annul 22 framework deals with renewable energy peers regarding purchasing of the certificates of origin. The company hopes that it will bring PLN 110 million profit next year, and some PLN 2.1 billion in the future, Energa said in a market filing. According t...

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 ...