PSEG to invest $56 million in Skawina power plant

The Treasury Ministry yesterday sold 35% of shares, worth $24.8 million, in the Elektrownia Skawina power plant to PSEG Poland Distribution BV, which is owned by American group PSEG. The investor, who finally received all the necessary approvals from the Office for Competition and Consumer Protection and the Interior and Administration Ministry, is obliged to later purchase more shares so that they will own a 50% plus one share stake, as was agreed in the privatization contract. Over the next five years PSEG is going to invest another $56 million in Skawina. This capital will be used to modernize the power plant so that it can meet new environment protection regulations. (Puls Biznesu, p. 11; Rzeczpospolita, p. 1) A.D.