Enron appoints new executives
Jarek Astramowicz, who was the driving force behind Enron's negotiations to build a $132 million combined power and heating plant in Nowa Sarzyna in southeastern Poland, was appointed vice president of Enron Europe Limited. Until now, Astramowicz had been president of JAC (Poland), a consulting firm that is a minority partner in the Enron project.
But the bigger surprise came with the appointment of Jacek Drelewski as a president of Elektrocieplownia Nowa Sarzyna heating plant. Drelewski won fame in the Polish energy sector as president of the EC Krakow heating plant, the first state-owned plant to be privatized.
Drelewski stepped down as president of EC Krakow on May 29 when French-giant Electricite de France (EdF) officially took over a 55% stake in EC Krakow for $80 million. Drelewski was replaced by Jean-Michael Mazarelat from EdF who now is president of EC Krakow.
Drelewski was offered the job in Enron soon after he quit Krakow. "It wasn't poaching," said Astramowicz. "We offered him the job after he took the decision not to extend his term in Krakow with the new capital structure there."
The announcement of the appointments coincided with the closing of a $118.5 million syndicated loan for the project. Lead arranger Westdeutsche Landesbank will provide $18.5 million of the loan. Other banks contributing to the project financing include Allied Irish Bank, Bayerische Vereinsbank, Creditanstalt, Kreditbank, Bayerische Landesbank, Erste Bank, De Nationale Investringsbank, Den Norske Bank and Landesbank Hessen-Thuringen.
But the bigger surprise came with the appointment of Jacek Drelewski as a president of Elektrocieplownia Nowa Sarzyna heating plant. Drelewski won fame in the Polish energy sector as president of the EC Krakow heating plant, the first state-owned plant to be privatized.
Drelewski stepped down as president of EC Krakow on May 29 when French-giant Electricite de France (EdF) officially took over a 55% stake in EC Krakow for $80 million. Drelewski was replaced by Jean-Michael Mazarelat from EdF who now is president of EC Krakow.
Drelewski was offered the job in Enron soon after he quit Krakow. "It wasn't poaching," said Astramowicz. "We offered him the job after he took the decision not to extend his term in Krakow with the new capital structure there."
The announcement of the appointments coincided with the closing of a $118.5 million syndicated loan for the project. Lead arranger Westdeutsche Landesbank will provide $18.5 million of the loan. Other banks contributing to the project financing include Allied Irish Bank, Bayerische Vereinsbank, Creditanstalt, Kreditbank, Bayerische Landesbank, Erste Bank, De Nationale Investringsbank, Den Norske Bank and Landesbank Hessen-Thuringen.
