Sweden's Sydkraft to plug into the Polish power market

Sweden's largest listed utility Sydkraft said on Monday it was launching a power heating firm in Poland to position itself on the recently deregulated Polish power market. "We think we will be successful because of Sydkraft's good reputation and technology competence," said Sydkraft spokesman Hakan Hagstrom. The company, Sydkraft Energetyka, would focus on district heating and combined heat and power, and form Sydkraft's platform on the Polish power market. He said Sydkraft would also start a partnership with the distributor of district heating, Poznan. Sydkraft's long-term goals in Poland include a total turnover of $108.7 million per year by 2005 and a total turnover in the the heating sector of $16.31 million. Further 2005 goals were acquisitions of at least five district heating distributing firms and three combined heat and power plants. (Reuters)