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Kulczyk Investments picks Alstom to build Polish power plant
May 13, 2013 / 5:11 PM / 5 years ago

Kulczyk Investments picks Alstom to build Polish power plant

KATOWICE, Poland, May 13 (Reuters) - Kulczyk Investments said it had picked France’s Alstom as the general contractor for construction of a power plant in the north of Poland at a cost of up to 15 billion zlotys ($4.7 billion).

“The contractor has been chosen; it is Alstom. What is left is only the question of signing the final agreements,” Kulczyk Investments Director General Dariusz Mioduski said on Monday. The firm is controlled by Poland’s wealthiest man, Jan Kulczyk.

The project, known as Elektrownia Polnoc, is to consist of two 1,000 megawatt coal-fired blocks. It was scheduled to be completed by 2016-2017 and to cost 12-15 billion zlotys ($3.7-4.7 billion).

The project still awaits environmental approval. Industry experts also warn that slumping forward power prices are making it difficult for Polish utilities to attract the financing needed to build new generation capacity.

Kulczyk said in March it had short-listed seven bidders for the project. ($1 = 3.2080 Polish zlotys) (Reporting by Agnieszka Barteczko; Writing by Adrian Krajewski; editing by Jane Baird)

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