Energy sector could see mergers next year

Mergers in the energy sector could be economically justified, Marek Woszczyk, CEO of PGE, one of Poland’s four largest energy providers, told ISBnews. “They can increase the availability of financing for new projects. … Our energy sector still requires huge investments,” Woszczyk said. He emphasized, however, that the decision to consolidate energy companies lies with their owner – the State Treasury. Earlier in October, Treasury Minister Włodzimierz Karpiński said that decision on whether to privatize energy companies will be made in 2015 and that any solution is possible. On Monday, the cornerstone was laid for Poland’s largest energy investment since 1989 – the construction of two coal-fired energy blocks with total generation power of 1,800 MW. The total value of the project is PLN 11.6 billion. “The Opole investment is scheduled to be in operation for 40 years,” Woszczyk said. The plant will be completed in 2018-2019.