26. 3. 2024

CEZ Group launches divestment of selected Polish assets in line with decarbonization strategy, plans to strengthen ESCO activities in Poland

In line with the current business strategy focused on reaching net-zero by 2040, CEZ Group officially started the divestment process of several selected companies in Poland today. After the market sounding, interested investors will be asked to present non-binding offers. CEZ intends to further develop and strengthen its portfolio of energy service companies (ESCO) in Poland. These include CEZ Energo Polska and the companies under Elevion Group.

The divestment concerns four Polish companies: CEZ Skawina, CEZ Chorzów, CEZ Produkty Energetyczne Polska and CEZ Polska. The whole sales process begins with market sounding, followed by subsequent stages. The divestment is lead exclusively by ING Bank, the advising investment bank to CEZ.

The assets selected for divestment include two combined heat and power plants (CHPs) in the densely populated and urbanised regions of Silesia and Lesser Poland. CEZ Skawina (installed capacity 330 MWe / 588 MWt) is the second largest provider of heat to Krakow (approx. 25% market share) and Skawina. CEZ Chorzów (238 MWe / 500 MWt) is one of the largest heat suppliers to Katowice and other agglomerations in Silesia. Last year CEZ Skawina and CEZ Chorzów produced in total 1,390 GWh of electricity and 5,649 TJ of heat.

CEZ Produkty Energetyczne Polska provides dedicated supporting services in energy by-products. CEZ Polska evaluates the market situation in terms of energy regulation and legislation, provides communication, PR and public affairs activities, and ensures the corporate identity and integrity of CEZ Group in Poland.

The divestment of the above-mentioned selected Polish companies is in line with CEZ Group's business strategy focused on decarbonization of production portfolio and reaching net-zero by the year 2040.

CEZ wants to keep and further develop only those Polish companies that are focused on providing modern energy services (ESCO). These include CEZ ENERGO Polska and the companies under Elevion Group that offer end-to-end solutions for decarbonization and energy efficiency. In Poland is Elevion Group currently represented by 4 subsidiaries (Euroklimat, Metrolog, OEM Energy and TRiM-tech). Metrolog is one of the leading manufacturers of compact heat substations on the Polish Energy for industry market and promotes efficiency-oriented solutions that are aimed at eliminating fossil fuels from Poland’s energy mix. Euroklimat is a leading company with an established position in the Polish market, operating in the construction sector as a supplier of large projects for HVAC (heating-ventilation air conditioning) and electrical installations working for large international clients.

CEZ Group entered the Polish energy market in 2006 with the purchase of the Skawina and Elcho power plants (now CEZ Chorzów) from the American company PSEG. Detailed information on CEZ Group Polish companies is available at https://www.cezpolska.pl/.