French energy company investment in power plants

French power-giant Electricite de France (EdF) is to increase its investment in Poland's energy sector. EdF wants to gain a 15% market share, both in the production and distribution of energy. "To make this plan come true we need to invest a few billion euro, and I think we will realize this plan over the next two to three years," said president of EdF International Bo Kallstrand. Currently, EdF owns 57.9% of the shares of power plant Elektrocieplowni Krakow (EC Krakow) and recently also acquired a 45% stake in the power plant Elektrocieplowni Wybrzeze (EC Wybrzeze). Through EC Krakow, EdF owns 15% of Elektrocieplowni Kogeneracja's (EC Kogeneracja) power plants and intends to increase this stake by acquiring 25% of the shares of German energy-concern Energie Baden Wurtemberg (EnBW), which is a shareholder of EC Kogeneracja. EdF has also formed a consortium with EnBW to negotiate acquiring an 80% stake in the power plant Gornoslaski Zaklad Energetyczny. EdF is one of the biggest energy sector companies in the world and employs 116,000 people. Last year, it made a net profit of euro 1.2 billion on revenue of euro 32 billion. (Prawo i Gospodarka, page 3) M.M.