Multi-million penalties unavoidable. Supreme Audit Office report smashes Ostrołęka C
Lack of reliable assessment of project’s rationale, high risk of delays and corresponding liquidity risks due to lack of financing, unavoidable financial penalties which may reach several hundred million PLN - the report of the Supreme Audit Office (NIK) confirms serious problems of Ostrołęka C and undermines rationale for its construction.
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Coal (co)dependence – while helping, mBank still harms - the response of climate organizations
mBank fails to understand the core of the problem: money is not marked. While the PLN 1 billion obtained by Enea from the bond issue will be used to refinance its debt, the company will use its profits and own funds for the construction of Ostrołęka C and other harmful projects.
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Cards on the table – first free online calculator shows coal Ostroleka C’s (un)viability
State-owned Polish utility Energa is again on fire at its Annual General Meeting as financial analysts publish an open-source online viability (NPV) calculator of the coal power plant Ostroleka C. From now on, everyone including Minister of Energy Krzysztof Tchórzewski, the mastermind behind the project, can test its own business plan. Burning money not coal is not a slogan anymore, yet an easily provable fact.
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mBank’s vision for the youth - corporate bonds for coal Enea
Polish mBank admits that it will support Enea in its corporate bond issue and assures that the money will not go to the construction of Ostroleka C power plant or any other coal-based projects. Is this naivety or ignorance?
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Shareholders seriously concerned - Enea under fire of questions about the rationale behind Ostrołęka C project
Ostrołęka C provoked a heated discussion during the General Meeting of Shareholders of Enea on 20 May 2019. The shareholders are seriously concerned about the growing debt of the company, which, as one of them said, "has been running up a debt to invest in something that does not bring profits".
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