Ill wind blows for ČeZ
The semi state-owned energy colossus ČEZ Group is considering selling off some of its holdings in Polish wind power projects. These are run via Polish company Eco-Wind Construction, in which ČEZ holds 75 percent stake. “The portfolio of Eco-Wind, shich comprises projects with a power production output of around 800 megawatts, will undergo optimisation. Certain projects will be sold off,” ČEZ noted in its latest report to investors.
Uncertainty regarding future Polish state support for green energy, including green electricity plants, is cited as the reason for this potential divestment. “Future development of individual wind farm construction projects will depend upon the final form of [new] green energy legislation,” said ČEZ spokesperson Barbora Půlpánová.
She added: “From the point of view of a business acting properly in the field of project development, if an amenable commercial environment does not exist, it would not be advantageous to continue.”
According to earlier reports published by the Polish media, ČEZ has undertaken a round of negotiations with Polish energy firms Enea and Tauron. “We do not wish to comment at this time as to how these negotiations are proceeding,” Půlpánová noted.
While on the one hand ČEZ is considering sellingoff certain Polish operations, on the other it is still pressing ahead with plans to build new 170-megawatt wind farms. “At present, ČEZ is investing in the developer phase of this project, meaning work related to the granting of construction permits,” said the ČEZ spokesperson. Last year’s operating profits for Eco-Wind were minus CZK 166m.
But while in Poland, ČEZ may be selling at least a part of its wind farm operations, in Romania similar plans have in essence been put on ice. “No specific negotiations are under way,” Půlpánová conceded. Formerly, ČEZ was considering selling off part
of its stake in the Fantanele and Cogealac wind farms, of a total installed output of 600 megawatts.
For comparison: this represents around 30 percent of the size of the Temelín nuclear power plant. The cause for the firm seeking to partner with a new investor was a reduction in support for renewable energy on the part of the Romanian government.