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Fulfilment of conditions necessary to sign a contract for construction of gas and steam CHP plant in Siechnice (New Czechnica CHP plant)

  • No. of the report: 10/2021
  • Report date: 01.04.2021 15:26
  • Report legal ground: Art. 17 sect. 1 of MAR – inside information.

Contents of the report

The Management Board of PGE Polska Grupa Energetyczna S.A. (“PGE”), with reference to the current report no. 7/2021 of the subsidiary Zespół Elektrociepłowni Wrocławskich KOGENERACJA S.A., informs that the Management Board of Zespół Elektrociepłowni Wrocławskich KOGENERACJA S.A. (the “Company”) has disclosed that:

• on March 5, 2021 the Supervisory Board of the Company adopted resolution on giving consent to pursue development turn-key investment consisting of construction of CCGT combined heat and power plant for Zespół Elektrociepłowni Wrocławskich KOGENERACJA S.A. in Siechnice, in connection with which new fixed assets will be created with a value exceeding PLN 10 000 000, provided that the Energy Regulatory Office (ERO) President grants a co-generation individual premium to the Company for unit New Czechnica CHP plant, on the ground of the Act of December 14, 2018 on promotion of electricity from highly-efficient co-generation, and gave a positive opinion on the draft resolutions included in the agenda of the Extraordinary General Meeting convened for April 1, 2021.,

• on March 12, 2021 the Company received a co-generation individual premium for unit New Czechnica CHP plant, on the ground of the Act of December 14, 2018 on promotion of electricity from highly-efficient co-generation, by the decision by the ERO President,

• on April 1, 2021 the Extraordinary General Meeting of the Company has adopted resolution on giving consent to acquisition of non-current assets, within the meaning of the Accounting Act of September 29, 1994, exceeding PLN 10 000 000 through giving consent to pursue development turn-key investment consisting of construction of CCGT combined heat and power plant for Zespół Elektrociepłowni Wrocławskich KOGENERACJA S.A. in Siechnice, in connection with which new fixed assets will be created with a value exceeding PLN 10 000 000, on the ground of agreements with a syndicate of: Polimex Mostostal S.A., al. Jana Pawła II 12, 00-124 Warsaw, NIP: 8210014509 – Consortium Leader and Polimex Energetyka sp. z o.o., al. Jana Pawła II 12, 00-124 Warsaw, NIP: 6760101371- Consortium Partner, with a value of PLN 1 277 021 671.15 net, i.e. PLN 1 570 736 655.52 gross, including:

- EPC contract: PLN 1 159 180 000.00 net, i.e. PLN 1 425 791 400.00 gross,

- LTSA: PLN 117 841 671.15 net, i.e. PLN 144 945 255.52 gross.

Thus, on April 1, 2021 the last condition was fulfilled with regard to the acceptance of the selection of the consortium consisting of Polimex Mostostal S.A. (Consortium Leader) and Polimex Energetyka sp. z o.o. (Consortium Partner) submitted in the procurement procedure titled „Turn-key construction of CCGT combined heat and power plant for Zespół Elektrociepłowni Wrocławskich KOGENERACJA S.A. in Siechnice” and the agreement shall be signed with the above mentioned consortium to pursue New Czechnica CHP plant. The Company will inform about the agreement in a separate report.

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