MINEX Forum

Region: Europe

  • Bogdanka’s strategy as a response to the challenges of transition

    Bogdanka’s strategy as a response to the challenges of transition

    [vc_section][vc_row][vc_column][distance desktop_type=”30″][lvs][distance desktop_type=”30″][vc_btn title=”Source – Lubelski Węgiel Bogdanka” color=”sky” i_type=”material” i_icon_material=”vc-material vc-material-perm_device_information” add_icon=”true” link=”url:https%3A%2F%2Flw.com.pl%2Fen%2Fnews%2Fbogdankas-strategy-as-a-response-to-the-challenges-of-transition|target:_blank”][distance desktop_type=”30″][vc_column_text]

    Lubelski Węgiel Bogdanka has published a new strategy for 2023-2030 with an outlook until 2040. The document outlines the key directions of development and transition for Bogdanka. The Company aims to create an innovative multi-commodity concern to drive green transition and secure the economic development of the Lublin region.

    Lubelski Węgiel Bogdanka’s new strategy is based on 5 pillars. The first is a strong coal foundation, in which Bogdanka remains the efficiency leader in coal mining until the end of the mine’s existence. The four others are: Multi-commodity Concern, Sustainable Energy Guarantor, Green Transition and Future of the Lublin Region.
    Through consistent implementation of the strategy to maintain a high level of production, by 2030 Bogdanka wants to generate funds that will allow for investments related to the multi-commodity area. The Company plans to invest PLN 8.6 billion over the next 8 years, almost half of which will be in new business areas.

    We want a strong multi-commodity concern to be established here, in the Lublin region, in the coming years, so that Bogdanka can remain the driving force of the region for the next 40 years. Our new strategy is primarily a response to the challenges posed by the broader energy transition. We want to naturally take advantage of the fact that we are an efficiency leader in coal production. This foundation will allow us to finance our transition projects. We will use our mining competencies to diversify Bogdanka’s operations towards the extraction of critical raw materials not only in the region, but also in Poland. By investing in renewable energy sources, Bogdanka will also become a guarantor of sustainable energy supply, both for its own needs and for the entire region. We will undertake all these activities with respect and care for the environment. We are driven by concern for the development of the region and care for the people. Because people are Bogdanka’s strength and greatest asset. With this strategy, we want to provide a place to work for the next generations of the Lublin region.

    said Kasjan Wyligała, President of the LW Bogdanka Management Board.

    Bogdanka’s strategic role makes the Company a guarantor of energy security and sovereignty not only for the region, but also for central and eastern Poland. Despite the fact that we are a leader among all Polish coal companies, we are nevertheless still working to optimize our operational efficiency. We are constantly making sure to strengthen the efficiency and profitability of our core business. This will provide us with stable financing for planned strategic initiatives. We will continue to invest in innovative solutions, in particular in the areas of rock mass monitoring, improved safety and ergonomics, and smart mine management systems. Cash flows will allow us to implement Strategic Initiatives with constant monitoring of available support mechanisms, as well as to remain a dividend company with payment of up to 50% of the Company’s net profit as is the case now. We estimate that the Company’s cumulative revenues will reach almost PLN 100 billion by 2040.

    said Artur Wasilewski, Vice-President of the Management Board for Economic and Financial Affairs at LW Bogdanka.

    Bogdanka estimates that nearly PLN 20 billion will be generated by the areas related to production, installation and recycling of RES components.

    The prospect of 2049 means that there are currently no plans for investment in new coal-based generating units in Poland. This necessitates the search for new non-coal sources of income for Bogdanka. Given that approx. 70% of energy in our country still comes from coal, one should assume that only large-scale renewable energy sources can bring about a significant change in the energy mix and significant decarbonization of the Polish economy in the relatively near term. Therefore, one of the important new pillars of the Company’s development is investment in renewable energy installations, i.e.: windmills, photovoltaic farms, energy storage, as well as in the entire value chain – from component production, through energy generation, energy storage to recycling of waste photovoltaic and electric batteries. We believe that the areas of production, installation and recycling of RES components will generate up to PLN 20 billion by 2040. We plan to develop RES in several stages. A 3MW photovoltaic farm near Bogdanka will soon be put into operation, while tender processes for another 27MW have already been launched. Our goal is to meet 10% of the Lubelskie Voivodeship’s annual electricity consumption by 2030.

    said Dariusz Dumkiewicz – Vice-President of the Management Board for Sales and Investments at LW Bogdanka.

    The Company wants to capitalize on its experience in mining and the growing potential of the commodity market, particularly critical raw materials. This makes Bogdanka see the multi-commodity approach as an attractive path to diversification. The Company plans to spend PLN 50 million in the coming years on exploration, appraisal drilling and other work to arrive at an investment decision. Currently, after expert analysis in this area, Bogdanka has tentatively identified 11 raw materials and more than 20 potential locations where it will carry out advanced analyses.

    As part of the Multi-commodity Concern, the Company also plans to establish a Fund to invest in new technology projects related to our current and future operations. In addition, Bogdanka wants to tap the intellectual potential of Lublin’s universities and entrepreneurs.
    Bogdanka’s new strategy is not just focused on the “here and now.” Preserving jobs and economic potential in the region – this is the essence of our plan in the context of the future of the workforce and the entire region of Central and Eastern Poland. We want to do it wisely, through business diversification, acquisitions and development projects. We want to create stable jobs in the region in the future. As part of the new strategy, we will launch programs aimed at attracting and retaining our best employees. But in parallel, we will implement new measures that are so important for any mine, namely investments to increase the level of occupational safety. We want to implement re-branding programs to successively and friendly prepare employees for the distant but imminent closure of hard coal mines. Implementing responsible business practices and ESG issues throughout the value chain will also be a our priority in the new strategy. Our goal is to maintain a stable level of employment in the core business until 2042. As of today it is almost 5,000 people.

    said Adam Partyka Vice-President of the Management Board for Social and Labor Affairs.

    Bogdanka is synonymous with stability and development. The Company’s new strategy is an effective response to the challenges of our times and will allow Bogdanka to be the region’s leader for the next 40 years.

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  • Bulgarian lead, zinc producer signs renewables PPA with Energy

    Bulgarian lead, zinc producer signs renewables PPA with Energy

    [vc_section][vc_row][vc_column][distance desktop_type=”30″][lvs][distance desktop_type=”30″][vc_btn title=”Source – Renewables Now” color=”sky” i_type=”material” i_icon_material=”vc-material vc-material-perm_device_information” add_icon=”true” link=”url:https%3A%2F%2Frenewablesnow.com%2Fnews%2Fbulgarian-lead-zinc-producer-signs-renewables-ppa-with-enery-826896%2F|target:_blank”][distance desktop_type=”30″][vc_column_text]Bulgarian lead and zinc producer KCM AD has signed a power purchase agreement (PPA) to procure green electricity from renewables developer Enery over a period of 12 years starting in 2024.

    The energy-intensive company will source electricity from a new solar power plant developed by Enery Element in Bulgaria, which is expected to produce almost 200 GWh a year. The exact capacity of the project and the amount of power supplies under the PPA were not specified.

    Enery is an Austrian-based developer operating in Central and Eastern Europe. Its majority-owned joint venture Enery Element has over 3 GW of renewables and battery projects under development in Bulgaria and Romania, according to the announcement.

    KCM AD, part of mining and metallurgical company KCM 2000 Holding, consumes nearly 400 GWh of electricity per year, with its consumption profile allowing a balanced mix of energy sources to promote sustainable energy supplies.

    The renewables PPA offers benefits such as long-term stability of electricity costs, reduced carbon footprint, and tailored terms to KCM AD’s operational demands and energy goals, the companies said.

    The contract was signed at KCM’s facilities in Plovdiv in the presence of Enery chief executive Richard Koenig and country manager and chief commercial officer Severin Vartigov.[/vc_column_text][distance desktop_type=”30″][/vc_column][/vc_row][/vc_section]

  • BHP buys Swedish explorer for A$9.8m

    BHP buys Swedish explorer for A$9.8m

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     ASX-listed Ragnar Metals has reached an agreement with the exploration arm of mining major BHP to divest its wholly-owned subsidiary Ragnar Metals Sweden for A$9.8-million.

    The sale includes tenements and exploration licences over the Tullsta nickel project in Sweden.

    Ragnar said on Monday that the sale is expected to be complete by September 30, with the cash consideration to be paid by BHP Metals Exploration on completion. Deferred consideration, in the form of a 1% net smelter return royalty will be payable to Ragnar upon commencement of commercial production.

    BHP has the option to buy out the royalty for a further A$10-million.

    “The sale of Ragnar Metals Sweden AB, with the foundation Swedish licences to BHP, validates the company’s original strategy and the potential of the Tullsta nickel project,” said Ragnar executive director Eddie King.

    “This transaction provides exceptional value for the company with a substantial initial cash injection and exposure to production through the royalty. I am excited to continue working with BHP to finalise the transaction and then re-direct our attention to exploring further critical mineral opportunities in Sweden.”

    Ragnar on Monday also announced the acquisition of two new lithium projects in Sweden, with the company undertaking its first reconnaissance field programme to review the regional prospectivity on the tenure.

    “We are excited to expand our exploration portfolio with highly prospective lithium projects, in one of the World’s best mining jurisdictions. We believe Sweden’s lithium potential is still to be unlocked, so we remain very committed to continued success as one of Sweden’s most active and effective explorers for critical minerals,” said King.[/vc_column_text][distance desktop_type=”30″][/vc_column][/vc_row][/vc_section]

  • SKIET rejuvenates old mining town in Poland as green industry hub

    SKIET rejuvenates old mining town in Poland as green industry hub

    [vc_section][vc_row][vc_column][distance desktop_type=”30″][lvs][distance desktop_type=”30″][vc_btn title=”Source – The Korea Economic Daily” color=”sky” i_type=”material” i_icon_material=”vc-material vc-material-perm_device_information” add_icon=”true” link=”url:https%3A%2F%2Fwww.kedglobal.com%2Fesg%2FnewsView%2Fked202306260008|target:_blank”][distance desktop_type=”30″][vc_column_text]DABROWA GORNICZA, Poland – It was not long ago that Dabrowa Gornicza in Silesia Province struggled to bring back the old glory of a vibrant coal mining and steel production center.

    But the ninth biggest city in Poland, 300 kilometers from the capital Warsaw, does not have to dwell on its old fame anymore after it has revived as an electric vehicle industrial hub in Europe thanks to SK IE Technology Co. (SKIET), a South Korean electric vehicle material maker that broke ground on Europe’s first EV battery separator plant in the city with a population of about 120,000 in 2021.

    “The old mining town is being reborn as a green economic mecca centered around the EV battery,” Marcin Bazylak, mayor of Dabrowa Gornicza, recently told to The Korea Economic Daily at the city hall in the Polish city. “SKIET laid the groundwork for our city’s transformation into an eco-friendly economy.”

    SKIET has made a big bet on Poland, located in the very center of Europe, with an investment of 2.2 trillion won ($1.7 billion) to build Europe’s first lithium-ion battery separator plant.

    A separator is one of three key ingredients of batteries, together with cathodes and anodes, and makes up 10-15% of battery manufacturing costs.

    It electronically isolates layers between cathodes and anodes in a battery and serves as a channel where lithium ions move between positive and negative electrodes.

    (Graphics by Sunny Park)
    (Graphics by Sunny Park)

    The Korean company is currently running its first LiBS plant with an annual production capacity of 340 million square meters in the southwestern city of Poland.

    It aims to commence the commercial production of its second separator plant in the European country with a capacity of 340 million square meters by the end of this year while adding two more plants with a total capacity of 430 million square meters, slated for mass production in the end of 2024.

    When the fourth plant starts operating, SKIET will be able to churn out up to 1.54 billion square meters of separators from the facility, the largest separator output in Europe and equivalent to power about 2.05 million electric vehicles, according to the company.

    “We are proud of SK’s advance into our city, which is comparable to Neil Armstrong’s planting of an American flag on the moon,” said Mateusz Rykała, vice president of the Katowice Special Economic Zone near Dabrowa Gornicza. “Silesia Province is now famous for the automotive industry among Europeans.”

    CENTRAL BUSINESS AND COMMUNITY PARTNER

    Since its setup, SKIET Poland (SKBMP), SKIET’s Polish entity, has grown into a core business partner of the southwestern city in Poland.

    It has donated about 330 million won to three local vocational schools in Silesia Province as part of its community services.

    It has been a sponsor of the Michał Spisak International Music Competition organized by the Municipality of Dabrowa Gornicza and Zagłębie Palace of Culture for three years in a row.

    The company also donated about 120 books related to Korean culture, music, art and drama to a public library in Dabrowa Gornicza as part of the Public Library Supporting project.

    It has been actively participating in various other community services such as the donation of physical therapy equipment to senior care centers in the city and food and gifts to local orphanages on special days like Christmas.

    Of all, SKBMP’s blood donation drive in July 2021, when the Polish city grappled with a blood shortage in the face of the COVID-19 pandemic, made a specially good impression on the company, making the people in the city embrace the Korean company as a member of its community.

    “We have built trust among villagers as the company that can stand by them during hardship,” said Park Byoung_chul, CEO of SKBMP.

    “SK not only enhances the sustainability of the city but also plays a leading role in improving the image of Korean companies,” said Bazylak.[/vc_column_text][distance desktop_type=”30″][/vc_column][/vc_row][/vc_section]

  • LEAG is transforming coal plant into Germany’s largest energy storage system

    LEAG is transforming coal plant into Germany’s largest energy storage system

    [vc_section][vc_row][vc_column][distance desktop_type=”30″][lvs][distance desktop_type=”30″][vc_btn title=”Source – Balkan Green Energy News” color=”sky” i_type=”material” i_icon_material=”vc-material vc-material-perm_device_information” add_icon=”true” link=”url:https%3A%2F%2Fbalkangreenenergynews.com%2Fleag-is-transforming-coal-plant-into-germanys-largest-energy-storage-system%2F|target:_blank”][distance desktop_type=”30″][vc_column_text]LEAG has announced it would transform its lignite-fired thermal power plants and open-cast pits in eastern Germany into Europe’s largest green energy hub, with a capacity between 7 GW and 14 GW. The project will utilize wind and solar energy, innovative battery technology, and hydrogen. The initial phase involves a EUR 200 million investment to convert the Boxberg coal plant into the biggest renewable energy storage system in the country.
    LEAG, the second-largest producer of electricity from coal in Germany, plans to transform its complex of thermal power plants and coal mines in the Lusatia region in the eastern part of the country into the biggest green energy hub in Europe.

    Last week, the company estimated that by 2040, it would install between 7 GW and 14 GW of wind and solar energy capacity, along with up to 3 GWh of storage capacity and 2 GW for green hydrogen production. The transition is aimed at replacing 8 GW of coal power capacity.

    Pilot energy storage project at the Boxberg TPP site
    After closing the mines, the company plans to utilize the existing infrastructure for energy storage from renewable sources. LEAG is also considering the possibility of installing floating solar power plants, as some of the open cast coal mines will be turned into lakes.

    The company plans to utilize the existing infrastructure for storing energy from renewable sources after it closes the mines

    The company intends to invest EUR 1.5 billion in renewable energy by 2030 and aims to install wind farms and solar power plants with a total capacity of 7 GW on the mining sites.

    The largest battery system in the country is set to be installed at the location of its Boxberg power plant, situated on the border with Poland.

    LEAG has signed an initial agreement with American energy storage system manufacturer ESS Tech. The company claims its large duration energy storage (LDES) battery technology, utilizing iron, salt, and water, offers the lowest costs and that it is environmentally safe.

    LDES systems can provide electricity for at least ten hours at maximum operational power. The two companies are planning a 50 MW facility with a capacity of 500 MWh, alongside weaker lithium-ion batteries and hydrogen storage.

    The Boxberg thermal power plant is the first in line for the switch to renewable energy storage, with plans to make it operational by 2027. The 2.6 GW facility was commissioned in 1971.

    LEAG has announced that, along with its partners, it earmarked initial EUR 200 million and that it would seek additional investors as well as subsidies from the German government and the European Union. The entire project is estimated to cost EUR 500 million.

    Utility has 7 GW in renewables in project pipeline for 2030
    LEAG, owned by Czech companies EPH and PPF Investments, plans to connect a total of 7 GW of wind farms and solar parks to the grid before the end of the decade. The projects would occupy an area of 33,000 hectares or 330 square kilometers, on former coal mines. The energy giant estimates that it will require EUR 10 billion euros for the endeavors.

    Last year, the utility announced its pioneering project, GigawattFactory, for its first gigawatt of solar power, operational by early 2026. The construction is expected to cost over EUR 1 billion, it said. LEAG anticipates that over 1,000 employees would be directly or indirectly involved in the project, while its complex currently employs around 8,000 workers.

    The existing infrastructure in the coal complex facilitates the transition to green energy
    The existing power grid and other infrastructure can be utilized for the proposed thermal and electricity storage facilities on former open pit mines and closed coal plants.

    LEAG’s green energy hub is expected to provide the equivalent of up to 7% of the country’s current electricity demand.

    Government in talks with the business sector on achieving climate goals
    Germany is bound by law to phase out coal usage by 2038, but the governing coalition has promised to do so before the end of the current decade.

    The majority of coal power plant operators in Germany have already committed to shutting them down by 2030, and the government is also in negotiations with LEAG on the matter.

    Last autumn, the state achieved an agreement with RWE, Germany’s largest electricity producer, to close its coal-fired systems. Two plants with a combined capacity of 3 GW are scheduled to be shut down by 2030. In return, RWE obtained permission to extend the operation of two others, totaling 1.2 GW and originally set for closure in 2022, until March 2024.[/vc_column_text][distance desktop_type=”30″][/vc_column][/vc_row][/vc_section]

  • Taiwan, Poland agree to boost collaboration on EVs, hydrogen energy

    Taiwan, Poland agree to boost collaboration on EVs, hydrogen energy

    [vc_section][vc_row][vc_column][distance desktop_type=”30″][lvs][distance desktop_type=”30″][vc_btn title=”Source – Focus Taiwan” color=”sky” i_type=”material” i_icon_material=”vc-material vc-material-perm_device_information” add_icon=”true” link=”url:https%3A%2F%2Ffocustaiwan.tw%2Fbusiness%2F202306210025|target:_blank”][distance desktop_type=”30″][vc_column_text]Taipei, June 21 (CNA) Taiwan and Poland have signed two memorandums of understanding (MOUs) on electric vehicles and hydrogen energy, the Ministry of Economic Affairs (MOEA) said Wednesday.

    According to the MOEA’s Department of International Cooperation, the MOUs were signed by both sides during the 11th Taiwan-Poland Economic Consultations meeting in Warsaw Tuesday.

    The meeting was attended by Taiwan’s Deputy Minister of Economic Affairs Chen Chern-chyi (陳正祺) and Polish Secretary of State for Economic Development and Technology Grzegorz Piechowiak.

    The department said that under the MOUs, Taiwan and Poland would systematically enhance cooperation in the two fields.

    During the event, Piechowiak called for a Taiwan-Poland work team to further two-way collaboration on hydrogen energy development. He noted that bilateral trade grew 4.2 percent year-on-year to hit US$1.72 billion in 2022, the MOEA said in a statement.

    For his part, Chen touted Taiwan’s key position in the global supply chain and foresaw great potential for a strong economic partnership between the two countries based on their respective R&D strength and talent pools, the MOEA added.

    According to Chen, Taiwan hopes to cement its economic relations with Poland in part to diversify its market exploration efforts, while in part seeking to pave the way for it to initiate a mechanism with the European Union to push for trade and investments.[/vc_column_text][distance desktop_type=”30″][/vc_column][/vc_row][/vc_section]

  • DTEK attracts KPMG to cooperation to increase intl assistance to energy sector

    DTEK attracts KPMG to cooperation to increase intl assistance to energy sector

    [vc_section][vc_row][vc_column][distance desktop_type=”30″][lvs][distance desktop_type=”30″][vc_btn title=”Source – Interfax” color=”sky” i_type=”material” i_icon_material=”vc-material vc-material-perm_device_information” add_icon=”true” link=”url:https%3A%2F%2Fen.interfax.com.ua%2Fnews%2Feconomic%2F917853.html|target:_blank”][distance desktop_type=”30″][vc_column_text]DTEK has attracted the international auditing company KPMG to increase international donor assistance for the restoration of Ukraine’s energy sector, the energy holding said on its Telegram channel on Tuesday.

    “This will help increase the attraction of funds and equipment for the restoration of the energy infrastructure destroyed by Russia,” the company said.

    According to CEO of DTEK Maksym Timchenko, cooperation with KPMG builds trust in the company’s relations with donors.

    “DTEK’s international partners provide important support, and we are working to keep the light on during this war. DTEK has zero tolerance for any form of corruption, and our cooperation with KPMG builds trust in DTEK’s relationships with donors” Timchenko quoted by the company said.[/vc_column_text][distance desktop_type=”30″][/vc_column][/vc_row][/vc_section]

  • Deal focus: Poland wins huge Intel investment

    Deal focus: Poland wins huge Intel investment

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    The deal

    US chipmaker Intel joined forces with the Polish Government on 16 June to announce a €4.2bn investment in the Lower Silesian region, in the west of the country close to the Czech Republic/Germany border. This comes as the EU ramps up its efforts to become self sufficient in the manufacturing of semiconductors in light of the shortage that occurred during the Covid-19 pandemic.

    Why it matters

    All foreign direct investment (FDI) projects are of value to the host country, but certain sectors are particularly sought after in the 2020s. Last week we highlighted Morocco’s announcement of Gotion High Tech’s $6.4bn EV battery plant – one such area that most countries in the world are looking to achieve ‘hub’ status – and this week we look at the semiconductor industry, the source of myriad government initiatives and countless trade visits. Intel’s announcement in Poland – one of the world’s FDI stars of the past couple of decades even before this project – is a big one for the country, and for the EU more widely.

    Of the deal, Investment Monitor chief economist Glenn Barklie says: “In 2021, we correctly predicted that Intel would put a new fab plant in Germany. We also suggested that it may choose several locations in Europe (which has been the case given investments in France, Ireland, Italy and Spain), with a more cost-sensitive operation being placed in eastern Europe.

    “The location of the new facility is a strategic choice. Miekinia, a small city located 26km to the west of Wrocław, allows access to Intel’s fabs in Magdeburg in Germany and its R&D facility in Gdańsk.

    “Although incentives are generally seen as the icing on the cake in terms of site selection, for Intel it is much more of a driving factor. The company has (re)negotiated further incentives to build its Magedburg operation – $11bn up from $7.4bn, due to rising construction and energy costs.”

    The incentives offered as part of this new announcement are as yet unknown, but they are expected to be substantial. Poland set out to win the deal in a way that evidently impressed the Intel hierarchy. “Poland was just a little bit hungrier to win this site,” were the worlds used by Intel CEO Pat Gelsinger at a news conference announcing the project.

    However, amid the fanfare there are still issues that will have to be addressed. Barklie continues: “With Poland still largely reliant on coal for its energy, it will be interesting to see how quickly the country can make the switch to renewables given Intel’s commitments to use 100% renewable energy by 2030. On this front, we have seen strong, recent growth in inbound renewables FDI in Poland, particularly onshore wind and solar power.

    “More generally, Poland is the leading location in central and eastern Europe for greenfield investments. It accounted for about 25% of FDI projects in the region in 2022. Therefore, it would be expected to at least make the shortlist for such a large-scale investment.

    “Other key drivers for semiconductor investments include skilled labour, both existing and incoming (via graduates from universities), innovation, infrastructure (transportation, IT, land/facilities) and utilities. The chosen location will have had to meet these factors.”

    This investment in Miekinia should also bring additional investment and job creation to the region as Intel’s suppliers follow.

    This Intel activity isn’t just a win for Poland, however. Barklie concludes: “In a wider context, the project is a huge win for Europe. Intel’s investments in Europe (more so the EU) offer at least some indication that the EU’s Chips Act is working. Many European countries will be hoping that several more tier-one chip manufacturers establish similar operations in the near future.”

    The detail

    Details of the deal are still emerging, particularly with regards to the public money used to entice Intel, but the company says the project will bring with it 2,000 jobs, with thousands more being created indirectly. As for the date when the site will be operational, the company’s statement says: “This facility will help meet critical demand for assembly and test capacity that Intel anticipates by 2027.” The deal continues a busy 2023 for Intel, as it has just invested $25bn in a new chip plant in Israel, also expected to be operational by the end of 2027.[/vc_column_text][distance desktop_type=”30″][/vc_column][/vc_row][/vc_section]

  • Polish coal asset spin-off would lure investors, Amundi says

    Polish coal asset spin-off would lure investors, Amundi says

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    Poland’s planned curve-out of coal assets from its utilities would attract new investors, Amundi’s Marcin Fiejka said in Warsaw on Tuesday.

    “Energy transformation is a low-hanging fruit,” Fiejka, head of EM CEEMEA Equity at Amundi, said at the Bloomberg Capital Market Forum. “Planned carve-out of coal assets should make Polish utilities attractive for new group of investors.”

    The government seeks to spin off coal-fired power plants from the country’s biggest state-controlled utilities later this year. The plan, which has been delayed by several months, will allow power companies to focus on green energy generation. It would also given them better access to international financial markets, where funding for carbon-heavy investments has been in decline.

    PGE SA, Tauron Polska Energia SA and Enea SA plan to spend tens of billions of zloty in the coming decade. Poland has said it needs to invest more than 1 trillion zloty ($245 billion) in the energy sector through 2040 to replace aging coal plants, which currently produce about 70% of its electricity.

    Coal-exposed companies, which also include PKN Orlen SA and JSW SA have 18% share in Warsaw’s benchmark WIG20 equity index. For Amundi, Polish capital market needs more blue-chips to attract capital inflows.

    (By Maciej Martewicz and Konrad Krasuski, with assistance from Maria Tadeo)

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  • Ministers to block plans to ban new coal mines

    Ministers to block plans to ban new coal mines

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    The government is planning to remove a ban on opening new coal mines from a bill that is going through Parliament.

    The ban was added to the Energy Bill by peers in the House of Lords.

    Ministers also plan to drop changes to the bill which would have enabled small community energy projects to sell electricity directly to local homes.

    Green MP Caroline Lucas called the decision “reckless” and said the amendments should be reinstated “immediately”.

    A government spokesperson said it was made after “careful consideration” and they would continue to engage with parliamentarians.

    The amendment to ban the opening of new coal mines was approved by the House of Lords in April by a majority of just three with 197 peers voting in favour of the motion and 194 against.

    Introducing his amendment Liberal Democrat Lord Teverson said he had previously believed a ban was not necessary because it was “totally and absolutely obvious” that building a new coal mine “would be a really stupid thing for a country to do”.

    However, he told peers he had changed his mind after the government’s decision to allow a new mine to be built in Whitehaven, Cumbria.

    “If that happens once, it can happen again – that is why this amendment is so important,” he said.

    Opposing the amendment, minister Lord Callanan said the government was committed to phasing out coal but argued that an outright ban could cause a “severe weakening of our security of supply”.

    Shadow energy secretary Ed Miliband had said Labour would back the ban, but the government plans to remove the amendment from the bill at committee stage, where a bill is examined in detail, before it reaches a vote of the whole House of Commons.

    Community projects

    The government also intends to ditch measures put in by the House of Lords which would enable small community energy projects to sell electricity directly to local consumers.

    For example, a group which has installed solar panels on a school roof would be able to sell electricity directly to neighbouring homes.

    Currently, projects tend to sell their energy to other, larger utilities because the cost and burdens of setting up as a supplier in their own right are too high.

    More than 60 organisations – including the National Grid and the Church of England – have written to Energy Secretary Grant Shapps urging him to reconsider.

    In the letter, the organisations say community energy schemes have seen “almost no growth for six years, despite renewable technologies being cheaper than ever”.

    They say this is “largely due to the prohibitive costs they face in accessing local markets” and suggest the current rules are holding back the possibility of a big expansion in community schemes.

    ‘Bewildering’

    The government may also be heading for a run-in with some of its own backbenchers.

    More than 120 Conservative MPs had previously pledged to support a private members’ bill, which had the exact same wording as the clauses added in the House of Lords.

    Speaking in a debate about the bill in May, Conservative MP for North Devon Selaine Saxby spoke in favour of community schemes, telling MPs: “It is still bewildering to me, as someone who lives somewhere sunny, windy and with a huge tide, why this has not progressed sooner.”

    Responding to the debate Energy Minister Andrew Bowie said he agreed community energy schemes had “a role to play in tackling climate change” and that the department was looking into what further support could be given to the sector.

    Green MP Ms Lucas said the government’s approach was “well and truly stuck in the last century”.

    She said that “after endlessly repeating the importance of no new coal at COP26, its words have proved to be meaningless – and when hundreds of MPs from across the House have thrown their weight behind innovative community energy schemes to generate clean electricity at low cost, ministers rip them to shreds and offer up no alternative”.

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