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June 22, 2018, GE Power signed a letter of intent for cooperation in the construction of Ostrołęka C Power Plant with Polimex-Mostostal S.A., a Polish company which had lost the tender. Biznes Alert reveals close links between Polimex and project owners: Energa and Enea.

Both companies took part in tender procedure for the construction of Ostrołęka C power plant. Polimex-Mostostal was the favorite, however, it offered the highest price of PLN 9.6 billion gross. The final bid was won by the American-French consortium of GE Power and Alstom Power System with the amount of PLN 6.02 billion. The Ostrołęka S.A. power plant, co-owned by Energa and Enea, allocated only PLN 4.8 billion to the order. This confirmed the earlier concerns of experts that the project is significantly underestimated.

According to Bankier.pl, Polimex-Mostostal would implement one or more of the following tasks: construction works, delivery of steel structures and assembly of steel structures. Enterprises are to cooperate in the field of design and other services. The letter of intent is valid until September 30, 2018.

"What a Surprise" - sums up the cooperation between Polimex and GE, Baca-Pogorzelska editor from BiznesAlert, who in sharp words exposes links between companies and benefits that Polimex will achieve on this cooperation:

I will only remind the uninitiated that Polimex-Mostostal has been standing above the abyss [...], and after the recent injection of money from the power industry, it is somehow doing well. 65.93 percent of its shares belong to Enea, Energa, PGE and PGNiG (as investors acting jointly and in agreement). But this is just a soap opera for energy lovers. These games simply make the energy wholesale price go up, we will feel it in our pocket (if not in the accounts than in the prices of goods and services, where the market is no longer regulated) and we will not laugh. Especially, as it turns out that in this situation, maybe this capacity market is not at all justified?

At this point it is worth recalling that Alstom has recently tried to build another coal-fired power plant in Poland - the Północ Power Plant. Finally, the Północ Power Plant proved to be unprofitable and its owner – Polenergia belonging to Kulczyk Investments – gave up this project and took up the development of wind energy. This may have protected the company from serious problems, considering that the French giant Alstom had become infamous from a series of corruption and financial scandals in the implementation of the Slovenian coal-fired power plant Sostanj 6, which cost Slovenia's citizens 284 million Euro.

On that occasion, one should ask the question: who will really gain from building the Ostrołęka C Power Plant? Will it be the Polish society, burdened with higher and higher energy costs, or the energy companies and contractors in trouble who grow financial juggling to fulfil their coal ambitions?

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