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POWER GENERATION
19 January 2015 | by Gabor Chodkowski-Gyurics

PGE to buy Vattenfall assets

PGE to buy Vattenfall assets
PGE, Polish state-owned power company, is considering a $3.5 billion (€3.11 billion) acquisition of Vattenfall AB German assets, energy news website wysokienapiecie.pl reported on January 15.

Citing an unidentified PGE official, the company has hired Dentons, a law firm, to advise on purchase of Vattenfall’s lignite-based assets.

While Vattenfall seeks to get rid of its lignite plants to cut its carbon footprint and focus on renewables, the potential purchase could comprise a part of Poland’s plan to boost its state-owned power producers competitiveness within Europe.

Polish utilities, which also include Tauron Polska Energia, Energa, and Enea, may buy foreign peers to quicken their expansion, Treasury Minister Wlodzimierz Karpinski said early January.





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