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PGE may need to spend more for EDF assets to meet EU targets
May 19, 2017 / 11:57 AM / 4 months ago

PGE may need to spend more for EDF assets to meet EU targets

WARSAW (Reuters) - Poland’s biggest power group PGE estimates it may have to spend 600-700 million zlotys ($185 million) to make EDF power and heating assets it agreed to buy compliant with the European Union’s latest air-quality requirements, PGE chief executive said.

“We estimate this at 600-700 million zlotys,” Henryk Baranowski told a news conference.

He added that PGE does not plan to delist EDF’s Polish subsidiary Kogeneracja following a share tender it has to announce to take it over from EDF.

PGE said earlier on Friday that it had signed a conditional agreement to buy Polish power and heating assets from the French utility.

Reporting by Agnieszka Barteczko; editing by Justyna Pawlak

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