- Energy company continues to be committed to Polish market
RWE AG / RWE Polska announced today that at the moment, RWE will not place a binding offer to purchase shares in the Polish energy company Enea. Following careful analysis, RWE concluded that its potential offer would not match current market expectations.
The Polish energy market and Enea as a company remain attractive for RWE. RWE stays committed to its investment plans for the Polish market and intends to expand its operations in Poland, especially in the upstream sector.
RWE is one of Europe’s five leading electricity and gas companies. The company is active in the generation, trading, transmission and supply of electricity and gas. RWE’s 72,000 employees supply 20 million customers with electricity and gas in Europe. In the first half of fiscal 2009, RWE recorded approximately €24 billion in revenue. Essent, which was recently acquired by RWE, recorded a turnover of €9 billion in 2008. RWE is currently running the biggest investment programme in its history, with an overall investment volume of over €32 billion by 2012, making it one of the largest investors in Europe. Energy from renewables plays a key role, with investments totalling €1bn per year.
Poland is one of RWE’s core markets. The Group has broad experience in Poland since 1991. RWE Polska employs 1,600 people. Major business activities in Poland are: RWE Polska – the energy sales company which supplies electricity to over 880,000 customers, including the largest public and private institutions; RWE Stoen Operator – the operator of the electricity grid of Warsaw; RWE Polska Contracting; Bedzin Cogeneration Power Station and RWE Renewables Polska. Until 2015, RWE will be installing 300 MW wind generation capacity in the Mazurian, Pomeranian and Wielkopolska regions. Together with Kompania Weglowa, RWE intends to construct a coal-fired power plant.