ČEZ offers the following of its coal power plants for sale: Počerady, Chvaletice, Tisová together with Mělník 3, and Dětmarovice. This step is consistent with its long-term corporate strategy to operate just a limited number of upgraded coal power stations in the future; at the same time, the divestments will enable ČEZ to put a quick end to the investigation conducted by the European Commission since 2009. As part of its settlement, ČEZ agreed to sell one of its coal power stations. Except for the 1000 MW power plant in Počerady, the installed capacity of each of the remaining coal-fired sources is roughly 800 MW.
ČEZ has decided to divest the Počerady and the Chvaletice power plants due to uncertain coal supplies from 2013 on. The company has not yet been able to reach an acceptable coal supply agreement with Czech Coal. Relevant documentation pertaining to these two power plants has already been compiled and made available for pre-close due diligence conducted by potential buyers. An analogous process has also been initiated at the other power stations: Tisová, Mělník 3, and Dětmarovice.
As part of the settlement, ČEZ committed to selling one of the aforementioned power stations; however, chances are that, for commercial and strategic reasons, the company might eventually decide to accept offers to buy several coal-fired power plants if the terms and conditions are attractive. ČEZ expects to get more from this transaction than if it continued to operate the power station in its portfolio. The capital freed in this manner will be available for investments in the company’s new strategic priorities, such as nuclear energy and renewable source development.
In its power source portfolio development strategy adopted earlier, ČEZ decided to invest heavily in the Czech Republic only in upgrading power stations located in coal basins, to which the company can supply coal from its own mines. They are thus not exposed to the risk of commercial disputes over coal supplies. This applies to the power plants in Ledvice, Tušimice, and Prunéřov. ČEZ has been upgrading these sources to ensure that they comply with all relevant environmental standards, i.e., their efficiency should be significantly improved and CO2 emissions reduced compared to the existing levels, thus making it possible to operate the power plants for decades to come. The first comprehensive upgrade project was completed early in June this year at the Tušimice power plant.