PGE power's Opole investment underway - minister
September 30, 2013
Poland’s government sees no threat to the realization of power group PGE's investment in southwestern Opole, while the formal launch of the works should take place by December 15, Treasury Minister Wlodzimierz Karpinski told a press conference on Friday.
"Concerning the building of power blocks in Opole, the works are underway on achieving an agreement between consortium partners and it looks like we will have a full report in the next few days," Karpinski said.
"I see no threats for this project - we currently have until December 15 to formally launch the works and I think it can be realized earlier," the minister added.
At issue is PGE's plan to build two 900 MW blocks for an estimated at PLN 11.56 billion, which the group had suspended citing reduced economic viability of the project following changes on the energy market and in macroeconomic environment.
The project was revived in June, when PGE signed a letter of intent on cooperation with coal miner Kompania Weglowa. On August 1 the sides struck basic terms for potential long-term coal deliveries for the new power plant.