Project description
and objectives:
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Up to PLN 160 million equity investment in Dalkia Polska S.A. to finance the
acquisition of ZEC Lodz, a district heating and cogeneration utility producing
and distributing heating services in the City of Lodz. The capital increase is
a co-investment with Dalkia International, the French utility operator.
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Transition impact:
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ZEC Lodz, the Company to be privatised, is one of the largest Cogeneration
facilities in Poland and as such the conclusion of this competitive
privatisation process will be a key achievement for the Polish Treasury in
seeking to attract private enterprise to the sector. EBRD’s participation
alongside Dalkia will support energy efficiency improvements and a major
investment program to improve the operation’s environmental standards. The
possibility of a future listing of Dalkia Polska on the Warsaw Stock Exchange
offers the potential to significantly deepen the market and to address the
shortage of utility stocks.
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The client:
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Dalkia Polska, owned by Dalkia International, EBRD and ZIS, is the Holding
Company of a series of municipal heating/cogeneration and distribution assets
in Poland. The acquisition target to be privatised, ZEC Lodz, is a combined
district heating and cogeneration facility consisting of three operating
cogeneration plants and a piping network from the plant to end users in the
city of Lodz, Poland.
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EBRD finance:
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Up to PLN 160 million equity investment via a capital increase of Dalkia
Polska.
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Total project cost:
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Confidential. Acquisition price negotiations ongoing.
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Environmental impact:
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C/1 screened project. An Environmental Action Plan is being developed by
Dalkia Polska to address environmental issues including emissions of NOx , SOx
, CO , and dust as well as carbon dioxide and benzopyrene. A major capex
program is planned to be implemented in order to improve emissions:
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Modernisation or replacement of dusters on boilers
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Construction of a desulphurization unit
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Installation of low NOx burners
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Modernisation of combustion installations to permit use of lower sulphur
content fuel
The Bank will review this programme and amend PSD accordingly prior to
submission of the project for management review.
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Technical
cooperation:
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None.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Thierry Aveline de Rossignol
E-mail: tavelinederossignol@dalkia.com
web-site: www.dalkia.com/poland
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EBRD contact:
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Francois Gaudet, Operation Leader: gaudetf@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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