16. 9. 2008

CEZ purchases the minority state share in the Polish power plant Skawina

Warsaw, 16 September 2008. Today, the representatives of CEZ and the Polish state, i.e. State Treasury Secretary (skarbu państwa) Aleksander Grad, signed a contract on transfer of the state share in Elektrownia Skawina to CEZ. The transaction will be settled in the following days. For 25 % share + 1 stock, CEZ will pay the Polish state 92.6 million PLN which is almost 672 million CZK.

Thereby, CEZ has acquired the property share of approximately 99.98 % in Skawina in which it purchased the majority share (75 %) in May 2006 from the American concern PSEG. The installed capacity of the bituminous coal-fired power plant Skawina amounts to 490 MW. Within the scope of combined electricity and heat generation, the power plant supplies the city of Skawina and the western part of Cracow with heat and hot water.

"We have been interested in the state share in Skawina for a long time and so we are glad that we have agreed with the Polish state on the price acceptable for both the parties," said Martin Roman, the Chairman of the Board of Directors and the Chief Executive Officer of CEZ.

In addition to Skawina, the CEZ Group owns another bituminous coal-fired power plant in Poland, namely Elcho with the capacity of 238 MW.