French electricity group to buy stake in ZEC Wybrzeze

Electricite de France and Gas de France consortium will pay euro 55 million to euro 60 million for a 45% stake in Zespol Elekrtocieplowni Wybrzeze (ZEC), powerplant group. The deal, to be clinched by mid July, includes a pledge to bolster the company's capital by an additional euro 15 million. The French, which are soon to begin negotiating the severance packages, will also invest euro 150 million to euro 160 million over the next eight years. ZEC president Waldemar Dunajewski believes the money the deal secures will help the company pursue current development strategies, which include the capital engagement in heat distribution in Gdansk and Koszalin. The company would also like to shift its production from conventional to gas-powered plants with parallel electricity and heat production. However, the plans need the approval of the new investor. Dunajewski believes further ZEC development depends on the construction of small energy providers in the cities of the northern Poland, such as Slupsk, Stasrogard, Gdansk, Tczew, Wejherowo, Koscierzyna and Kartuzy. (Puls Biznesu, page 8, 9) P.S.