Acciona Unit, Rafako Win $1.4 Billion Power Contract
Mostostal Warszawa SA (MSW), a unit of Spain’s Acciona SA (ANA), and Rafako SA (RFK), Poland’s largest power engineering company, won a 4.4 billion zloty ($1.4 billion) contract from power producer Tauron Polska Energia SA. (TPE)
Poland’s second-largest utility, which rejected bids from China National Electric Engineering Co. Ltd., Alstom SA (ALO) and SNC- Lavalin Group Inc., will sign a deal with the Rafako-led group to build a 910-megawatt, coal-fired plant in Jaworzno in the second quarter, it said in a regulatory statement today.
Mostostal jumped 6.2 percent to 14.84 zloty at 12:02 p.m., heading for the highest close since April 2012. Rafako, a unit of bankrupt Polish builder PBG SA (PBG), gained 4.6 percent to 9.4 zloty, while Tauron shares declined 1.4 percent to 4.83 zloty.
State-controlled Tauron picked the builder of its biggest investment project almost two years later than planned. The Katowice, Poland-based company, which is reviewing its expansion plans, will spend as much as 45 billion zloty by 2020 to build cleaner power plants and distribution lines.
In the last 12 months Polish utilities chose builders for five new power plants that will add about 4,700 megawatts to the country’s existing capacity of 37,700 megawatts. That’s 21.6 billion zloty of investment that will help builders offset a drop in revenue as the government cuts road investments.
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