No Turning Back for Utility Building Poland's Last Coal Plant
- Energa says Ostroleka Ebitda to top 300 million zloty per year
- Power capacity market isn’t crucial for contested project
Bulldozers shift coking coal.
Photographer: Bartek Sadowski/BloombergThis article is for subscribers only.
Poland’s Energa SA will not abandon a contested 6 billion zloty ($1.6 billion) Ostroleka power plant project as the country needs to replace its aging facilities to meet rising demand for electricity, according to its chief financial officer.
The 1-gigawatt project is slated to be the nation’s last coal-fired unit when it starts operating in 2023. Despite concerns about the soaring cost of carbon emissions and objections by environmental groups and the industry regulator, Energa CFO Jacek Koscielniak remains optimistic. The plant is set to generate more than 300 million zloty in earnings before interest, tax, depreciation and amortization annually in “every scenario,” he said.