Polish PGE Scraps Opole Power Plant Build-Out Project
April 05 2013 - 8:20AM
Dow Jones News
WARSAW--Poland's largest, state-controlled power utility PGE
Polska Grupa Energetyczna SA (PGE.WA) has terminated its hard coal
Opole II power plant built-out project, as trends in the economy
and low power prices have hit its commercial viability, the company
said Friday.
Continuing with the Opole II project, which would involve
building two new units--numbered 5 and 6 at PGE's power plant in
Opole--wouldn't create value for shareholders, PGE said in a market
filing.
PGE plans to refocus on its core business of generating and
selling power from burning lignite, as well as other investment
projects, it said.
Write to Marynia Kruk at marynia.kruk@dowjones.com
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