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DWF advised Elektrownia Ostrołęka in negotiations with GE of an EPC contract for the construction of a gas-fired power plant

20 July 2021

DWF lawyers in Poland have advised Elektrownia Ostrołęka and CCGT Ostrołęka in negotiations of an EPC contract for the construction of a 745 MWe CCGT power plant in Ostrołęka and a long-term service agreement with companies from the General Electric group. The value of the EPC contract is approximately PLN 2.5 billion.

The transaction consisted in the conclusion of an annex to the contract for the construction of a coal-fired power plant with the general contractor - companies from the General Electric group - replacing that contract with an EPC ("turnkey") contract for the general execution of a gas-steam power plant. Also, a long term service agreement for the maintenance of the power plant has been executed. The conversion of technology to low-carbon is a sign of the transformation of the Polish energy sector. 

The project was supervised by Zbigniew Kozłowski, Equity Partner at DWF, as well as Maciej Antoniak, Local Partner and Marcin Oszczak, Counsel. The team involved in the project also included Maciej Jamka, Miłosz Tomasik, Michał Bystrzyński, Karol Jaworecki, Aneta Słabik, Patrycja Treder, Dominika Sarek, Oskar Tułodziecki, Anna Kida, Ewelina Madej, Mariola Koska, Paweł Stykowski, Adrian Jonca, Izabela Plis, Tomasz Kaczmarek, Piotr Kunicki and Paulina Sawicka.

CCGT Ostrołęka, which is to implement the gas project, is a special purpose vehicle of ENERGA SA - one of the four largest Polish energy companies and one of the three largest suppliers of electricity in Poland. Its core business is generation, distribution, trade in electric and thermal energy and trade in gas. ENERGA SA is a part of PKN Orlen, which was the first oil company in Central Europe to declare the goal of achieving emission neutrality in 2050. PKN Orlen is a multi-energy company whose development strategy is based on renewable and gas energy, efficient, low-emission refinery and petrochemical production, own hydrocarbon production and integrated offer for individual customers. By 2030, the ORLEN Group intends to spend a total of PLN 140 billion on investments.

General Electric is a global industrial conglomerate originating in the United States of America. GE is a leader in gas and renewable energy, aerospace, and healthcare, among other fields. 

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