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DZP advised Tauron Polska Energia S.A. in connection with the execution of agreements determining the conditions of involvement of Investment Funds managed by the Polish Development Fund (PFR) in the development of a 910 MW energy unit in Jaworzno.
Tauron Polska Energia S.A. signed an investment agreement and a shareholders’ agreement with investment funds managed by PFR setting out the conditions of the funds’ involvement in the project.
DZP advised Tauron Polska Energia S.A. in the whole process of drafting, negotiating and signing transactional documentation, including the main project agreements between the parties.
DZP’s work was managed by Rafał Hajduk, Partner and the Head of the Energy Team, and the transactional team was composed of experts from the Infrastructure & Energy Practice: dr. Krzysztof Fliszkiewicz, Senior Associate, Grzegorz Filipowicz, Senior Associate and Mateusz Koszel, Associate.
Based on those agreements the funds will invest the total of up to PLN 880 million in the development of the unit by way of taking new shares in an SPV, Nowe Jaworzno Grupa TAURON sp. z o.o. (NJGT), which at present is wholly owned by TAURON Polska Energia and which will carry out the construction of the 910 MW energy unit in Jaworzno.
The unit will meet restrictive environmental standards, significantly reducing the emission of CO2 and other greenhouse gases.
The unit with net efficiency of 45.9% will be a supercritical parameters coal-fired unit with power exported via a 400 kV power line connected to the National Power System. The projected annual coal consumption will be up to 2.8 million tons. Fuel will come primarily from TAURON Group’s mines. The unit will generate up to 6.5 TWh of electricity per year, which equals the demand of 2.5 million households.
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