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The Warsaw Voice » Business » September 14, 2018
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Minister on Ostroleka power block
September 14, 2018   
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Krzysztof Tchorzewski
Power utilities Energa and Enea are unlikely to need support from other companies to fund Ostroleka C coal-fired power block, Minister of Energy Krzysztof Tchorzewski told PAP.
"There seems to be no [such] need," Tchorzewski said asked whether Energa and Enea should be joined by some other companies in financing their joint 1000 MW coal-fired power block Ostroleka C.
On September 4, Energa and Enea informed of signing an agreement with closed-end fund FIZAN Energia owned by power group PGE's investment fund house TFI Energia for bringing maximum PLN 1 billion capital into the investment by the fund.
According to PGE spokesperson Maciej Szczepaniuk, PGE is not an investor of FIZAN Energia.
FIZAN Energia has secured the funds for its potential involvement in the Ostroleka C project, Tchorzewski suggested.
"Banks would not accept the fund's involvement [in the investment] if it did not guarantee the money," Tchorzewski said. "That PLN 1 billion is already raised."
For their part, Energa and Enea would bring PLN 1 billion each to SPV Elektrownia Ostroleka, that preliminary agreement stated. The deal between the utilities and the fund also mentioned participation of "other forms of financing" that would provide "the remaining sum" for the project completion.
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