Profil:
Polenergia SATauron power concludes settlements with Polenergia renewables' subsidiaries
Listed power utility Tauron and its subsidiary, Polska Energia - Pierwsza Kompania Handlowa (PEPKH), have reached settlements with Amon and Talia from listed renewables group Polenergia, Tauron said in a press release. On June 1, energy deliveries from the Lukaszow and Modlikowice wind farms will resume for a total volume of approximately 1.2 TWh over a 10-year period.
The settlement resulted in the termination of the agreements concluded on December 23, 2009, between PEPKH and Amon and Talia for the sale of property rights arising from certificates of origin, which are evidence of the generation of energy in a renewable energy source.
PEPKH and Amon and Talia amended the agreements for the sale of electricity generated at the wind farms in such a way that their performance will be resumed for a period of 10 years, calculated from June 1, 2025, to May 31, 2035, and the new price agreed by PEPKH and Amon and Talia at which the electricity will be purchased will not be subject to change throughout the performance period of the agreements.
In addition, PEPKH has paid a one-off compensation to Amon and Talia in the total amount of PLN 15 million (EUR 3.5 mln).
As a result of the settlement, there will be an end to all litigation that is currently pending both from Amon and Talia's actions against PEPKH and from PEPKH's actions against Amon and Talia. In addition, PEPKH will withdraw the cassation appeals.
As stated, as part of the settlement documentation, an agreement was concluded between Tauron, PEPKH and Amon and Talia as to Tauron's entry in place of PEPKH as the buyer in the agreements for the sale of electricity generated from renewable energy sources - the wind farm in Lukaszow and the wind farm in Modlikowice dated December 23, 2009, which also includes a settlement between Tauron and Amon and Talia.
"We are pleased that after 10 years of litigation with Polenergia Group companies, we have successfully reached a situation where the parties on the one hand have reached settlements and committed to end all litigation, and on the other hand will become business partners in the purchase/sale of green energy for the next 10 years," said Tauron's deputy CEO for trading Piotr Golebiowski, quoted in the group's press release.
"This will translate into an increase in the volume of green energy offered to customers," he added.
Tauron's strategy for 2025-2035 envisages, among other things, 'greening' the group's portfolio by investing in RES and concluding long-term PPAs for the purchase of green energy.
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