Wednesday, October 26, 2016

Kujawski: the Government expects long-term investor for the assets of the EDF in Poland – the Banker

the Government expects long-term investor for the assets of the EDF in Poland who will agree to not necessarily profitable, it is important for the energy security of the investment. Sees in this role of an investment Fund aimed at profit, told reporters energy Minister Krzysztof Tchorzewski.

on Wednesday, the group EDF announced the selection of IFM Investors to exclusive negotiations on the sale of assets to modular cogeneration combined-cycle plants in Poland. In parallel, EDF began talks exclusively with EPH for the sale of Rybnik power Plant.

EDF announced that completion of both processes sales in the first half of next year the necessary decisions relevant national and European regulatory authorities, including the consent of the Polish government. EDF Polska was, because that was deployed earlier this year in the list of strategic companies.

“the Investor must be submitted to the government in all respects: sources of capital, security (…). If EDF wants to get out of the country, we must have at least a responsible investor, which is someone who ensures that the company behaved decently, if we are talking about the energy security of the country, for which there is a true capital,” he told reporters Kujawski.

“the Investor must be previously submitted to us. EDF has no right to make commitments, have turned to the government about the division of the company,” he added.

According to REUTERS, it follows that in accordance with the schedule of the government’s agreement to the division of the Polish company EDF will need in mid-December.

the Minister of energy announced that EDF can “internally to do what he believes, can carry on a conversation”, and the Polish government will act in accordance with what is required by law.

“To avoid ambiguity – we have something to offer. May not be such an investor to leave on ice. (…) We said that in the mode in which they want to go into sales, during this period, we are not able to represent the investor, but we have achieved what we imagine. We turned to wait. Meanwhile, EDF is working on his scheme. I can in this situation to Express regret,” said Kujawski.

Preliminary binding deal to buy the assets of EDF in Poland filed in mid-September, PGE, ENEA, Energa and PGNiG Termika. From informal information PAP however, that the proposal affected the schedule for a process of sale and has not been taken into account by the seller.

according to the Minister, the investor of Russian energy assets can’t be random, can’t work purely market product.

“we are Waiting for the investor who will agree to accept investments, not necessarily profitable, but it is important from the point of view of security of the country. (…) which in the case of an emergency like a natural disaster or catastrophe decides to spend money,” he said.

the Minister does not see this role of the investment Fund.

“the investment Fund is configured to predatory profit. From this point of view, we are such an investor typically capital established to profit, we can’t accept. We agree on the investor, whose investment horizon exceeds 10 years, to upgrade power plants, combined heat and power. And not one that wyeksploatuje assets will win and come out of investments,” the Minister said Kujawski.

when Asked whether the increase in proposals submitted through the Polish firm, he said: “Companies must submit proposals economically justified from the point of view of evaluation.”

EDF has in Poland ordinary productive assets and operating services.

the power Plant Rybnik, which wants to buy the EPH has 1.8 GW of power.

the Deal with IFM Investors includes thermal power plant coal, i.e., thermal power plants Czechnica, gdańsk, Gdynia, kraków, toruń and wrocław, as well as thermal power plants, gas Zawidawie and Zielona góra total installed capacity of 4.4 and 1.4 GWe GWt. The deal also includes a distribution network of district heating in Czechnicy, Torun, Zawidawie and Zielona Gora. EDF, 50%. participation of one share in the company CHP indirectly in the ownership of CHP wrocław with the CHP and distribution networks heat Czechnica, Zawidawie and Zielona góra.

EDF transferred to the environment that will be present in Poland at the expense of the company EDF Energies Nouvelles and Dalkia. The company wants to become a partner for the Polish government in the development of the energy sector, including nuclear energy programme.

IFM Investors manages assets worth 47 billion euros, of which 21.4 billion Euro in infrastructure. IFM refers to the 29 Australian pension funds and invests on behalf of about 200 pension funds from around the world. In Poland IFM from 10 years of partnership with the company Veolia (former Dalkia) and has 40 percent. shares of Veolia Energy Poland, a service provider in the field of energy management, water and sanitation, and materials.

Energetický a pr…myslový holding (EPH) is a leading energy group in Central Europe, with operations in the Czech Republic, Slovakia, Germany, Italy, UK, Hungary and Poland. EPH is a vertically integrated energy company with complete value chain: kogeneracją, electricity generation, transmission systems and natural gas storage, distribution and supply of electricity.

the Minister, when asked about the process of selling assets of the power Engie, in which one of the participants is ENEA, said: “Engie is not addressed in the government with any official information that this procedure is done.”

According to the “Parquet” should be that the proposal Enei owned by Engie Power station Połaniec the lowest of the complex. Amounted to slightly more than 1 billion rubles, and foreign investors (Sunningwell and a group of Chinese investors) want to pay the 1.3-1.8 billion rubles and talking about investments. (PAP)

morb/ pel/ Ana/

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