Enea buys Engie Energia Polska
March 15, 2017
Power group Enea completed the purchase of a 100% stake in Engie Energia Polska, the Polish unit of French utility Engie, at a preliminary price of PLN 1.26 billion, Enea said in a market filing.
Enea financed the acquisition with "own funds, including the funds obtained as part of the first public issue, and also issue of bonds conducted within the program guaranteed by BGK," the filing reads.
Engie Energia Polska owns the Polaniec power plant with generation capacity of 1.9 GW.
"Taking over the control over Engie Energia Polska is in line with Enea Capital Group's Development Strategy until 2030," the filing reads.
"The investment will contribute to the integration of cost- and operation-efficient Kozienice - Bogdanka - Polaniec area of mining and generation based on its own resource."
Engie Energia Polska recorded a PLN 2.47 billion top line in 2016, including PLN 73 million from the sale of CO2 emission allowances, the filing reads.