Poland mulls new sell-off tender for power group Enea by end-2011.

By bne IntelliNews September 9, 2011
Poland mulls putting up for sale state-controlled power group Enea again by the end of 2011, Parkiet reported, quoting treasury minister Aleksander Grad. The country will attempt to find a sector investor for its third largest utility. The Polish government offered its 51% stake in Enea for sale in 2010 and launched talks with France's EdF, but the French company pulled out of the negotiations in March as it did not want to commit on building a new coal-fired unit at the Kozienice plant, which is still considered the main condition that should be completed prior to the sell-off. Enea CEO Maciej Owczarek said that the company plans to award a contract for the construction of a new power block by the end of the year with the project being evaluated at PLN 5.5bn. Enea claims a 16% share of the country's power market, covering 2.3 million homes, or a fifth of the country's territory. Enea reported a 15% y/y rise in second-quarter net profit to PLN 167.5mn (EUR 40.3mn).

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