Enea sued over wind farm for PLN 300 million

Eco-Power, a subsidiary of Wento, owned by Enterprise Investors, a fund-management private equity group operating in the CEE region, has sued state-owned Enea over a wind plant. Enea was to buy the plant after the completion of construction in February 2016, but then switched plans after appointing a new director in December 2015. The deal, concerning the site in Skoczykłody, was reached in August last year, and was estimated to be worth EUR 69.4 million. The plant, of a power of 36 MW, was finished by December, making it eligible to be given state grants for renewable energy resources companies under older, more profitable, laws. The new president, Mirosław Kowalik, changed the company's profile after new laws, concerning renewable energy, made the sectors' future less promising.  The lawsuit was delivered on May 2, 2016. Enea is a state-owned energy company, 3rd in size in the sector, with a market share of 16 percent. It reported a net revenue amounting to PLN 5.599 billion and a net profit of PLN 471 million.