Table of Contents
Table of Contents 2
List of Tables 5
Company Snapshot 6
Key Information 6
Company Overview 6
SWOT Snapshot 6
Operational Metrics 7
Tauron Polska Energia SA, Operational Metrics, By Generation 7
Tauron Polska Energia SA, Operational Metrics, By Customers 7
Tauron Polska Energia SA, Wind Farms 8
Tauron Polska Energia SA, Wind Farms, Poland 8
Tauron Polska Energia SA, Hydro Power Plants 9
Tauron Polska Energia SA, Hydro Power Plants, Poland 9
Tauron Polska Energia SA, Biopower Plants 10
Tauron Polska Energia SA, Biopower Plants, Poland 10
Tauron Polska Energia SA, Thermal Power Plants 11
Tauron Polska Energia SA, Thermal Power Plants, Poland 11
Business Description 13
Business Overview 13
Distribution 13
Overview 13
Generation 13
Overview 13
Mining 13
Overview 13
Others 13
Overview 13
Sales 14
Overview 14
Major Products and Services 15
History 16
SWOT Analysis 20
Overview 20
Tauron Polska Energia SA Strengths 20
Vertically Integrated Operations 20
Market Position 20
Cost Efficiency 20
Tauron Polska Energia SA Weaknesses 21
Increasing Trade Receivables 21
Working Capital Deficit 21
Tauron Polska Energia SA Opportunities 21
Demand for Electricity: Poland 21
Growing Renewable Energy Market 21
Strategic Agreements 21
Tauron Polska Energia SA Threats 21
Environmental Laws and Regulations 21
Competition 22
Operational Issues 22
Financial Ratios – Capital Market Ratios 23
Financial Ratios – Annual Ratios 23
Financial Ratios – Interim Ratios 25
Key Employees 26
Key Employee Biographies 27
Company Statement 28
Locations And Subsidiaries 29
Head Office 29
Other Locations & Subsidiaries 29
Financial Deals Landscape 31
Tauron Polska Energia SA, Deals Summary 31
Tauron Polska Energia SA, Power, Deal Details 32
Asset Transactions 32
Tauron Invests US$75.6 Million For Wicko Wind Farm Project, Poland 32
Tauron Polska Acquires Marszewo Wind Farm 33
Tauron Polska Energia to Acquire 10% Interest in PGE EJ I Nuclear Power Plant in Poland from Polska Grupa Energetyczna 34
Tauron Polska Energia Completes Project Financing of USD205.6 Million for Lagisza Gas Fired Power Plant in Bedzin Lagisza, Poland 35
Elektrocieplownia Completes Project Financing Of USD516 Million For Stalowa Wola Gas Power Plant In Subcarpathian, Poland 36
Partnerships 37
Tauron Polska Energia to From Joint Venture with ArcelorMittal 37
TAURON Wytwarzanie Receives Approval To Form Joint Venture With KGHM Polska Miedz 38
Debt Offering 39
Tauron Polska Energia to Raise USD112.3 Million in Private Placement of Bonds 39
Tauron Polska Energia Raises USD568 Million in Private Placement of 2.375% Bonds Due 2027 40
Tauron Raises USD560 Million in Private Placement of 2.375% Bonds Due 2027 42
TAURON Polska Energia to Raise USD202 Million in Private Placement of Bonds Due 2034 44
Asset Transactions 45
Polski Fundusz Rozwoju to Acquire 14.19% stake in Jaworzno Power Plant Expansion from Tauron Polska Energia for USD235.9 Million 45
Recent Developments 46
Tauron Polska Energia SA – Recent Developments 46
Jan 12, 2018: PGNiG, PGG, JSW and Tauron to cooperate on extraction of coal bed methane 46
Apr 20, 2017: TAURON And Grupa Azoty Team Up On Coal Gasification Project 46
Sep 02, 2016: Tauron Group’s 2016-2025 Strategy 47
Mar 20, 2014: TAURON and PIR work together 49
Jul 03, 2013: TAURON to start energy storage 49
Feb 04, 2013: Tauron Polska And BIT Partner To Implement New Energy Storage Technologies 50
Jan 25, 2012: PGNiG Signs LoIs With PGE, Tauron And KGHM For Shale Gas Exploration 50
May 16, 2018: TAURON Group: PLN 1.3 billion EBITDA and PLN 637 million net profit in the first quarter of 2018. 50
Nov 08, 2017: TAURON Group posts good Q1-3 2017 earnings: PLN 2.9 bln of EBITDA and PLN 1.2 bln in net profit 52
Aug 22, 2017: TAURON Group’s H1: EBITDA topping PLN 2 billion and net profit of PLN 1 billion 53
May 15, 2017: Good Q1 for TAURON Group 55
Mar 16, 2017: Good results posted by Tauron Group in 2016: stable sales revenue and EBITDA topping PLN 3.3bn 57
Aug 17, 2016: Tauron Group’s H1 2016 results impacted by write-offs 59
May 11, 2016: Tauron Group’s results in line with the market’s expectations 60
Mar 09, 2016: Stable EBITDA, net result impacted by impairment charges and provisions 61
Nov 10, 2015: TAURON Group reports net profit of more than PLN 1bn in Q1-Q3 63
Aug 24, 2015: TAURON Group: Successful first half of 2015 65
May 14, 2015: Tauron Group: Q1 2015 EBITDA tops PLN 1bn 66
Mar 12, 2015: TAURON Group posts good results in challenging 2014 67
Nov 13, 2014: TAURON Group’s Q1-Q3 2014 results stable 68
Aug 21, 2014: TAURON Group’s H1 2014 results top market expectations 70
May 14, 2014: TAURON Group posts sound Q1 results despite a challenging market environment 71
Mar 18, 2014: Higher profitability of TAURON Group in 2013 72
Nov 14, 2013: Increased profitability of TAURON Group in the first three quarters of 2013 73
Aug 22, 2013: Stable financial results of Tauron Group in the first half of 2013 74
May 09, 2013: TAURON Group’s profit increases in Q1 2013 75
Mar 15, 2013: TAURON Group’s good results in 2012 76
Nov 13, 2012: Improvement of TAURON Group’s financial results in Q3 and for the first three quarters of 2012 78
Aug 23, 2012: Good Q2 and H1 2012 results 80
May 10, 2012: TAURON Group: improved results in Q1 2012 81
Jun 20, 2018: Tauron power CEO on renewables, cogeneration, covenants et al 82
Dec 22, 2017: TAURON to build a pilot microgrid 82
Dec 11, 2017: TAURON the funding for the construction of smart grids 83
Sep 07, 2017: Poland to treat coal addiction by embracing nuclear power 84
Jul 03, 2017: American Energy Investor Sues Polish State-Controlled Energy Giant Tauron for $325 Million in Losses for Unlawful Termination of Long-Term Agreements 84
Jun 08, 2017: TAURON determined the conditions for potential financing of construction of a new unit in Jaworzno by the Polish Development Fund 85
Jan 30, 2016: Tauron Polska Energia to construct build hybrid power plant 85
Dec 08, 2015: Tauron power’s supervisory board replaces CEO Jerzy Kurella with Remigiusz Nowakowski 86
Jul 02, 2015: Enea and Tauron want to develop renewable capacities together 86
Jul 22, 2014: Poland: EIB fosters renewable energy and energy efficiency investments 86
Oct 21, 2013: TAURON opens Marszewo wind farm 86
Jun 11, 2013: URE Agrees For Local Utilities To Reduce Electricity Prices By 3.9-4.6% 87
Sep 04, 2012: PGE, Tauron Polska, ENEA And KGHM To Sign Agreement For Sharing Construction Costs Of First Nuclear Power Plant In Poland 87
Dec 13, 2011: TAURON May Collaborate With PGE For Construction Of Nuclear Plant In Poland 87
Oct 24, 2011: EIB Provides PLN210m Loan To Upgrade Electricity Generation In Poland 88
Aug 19, 2011: GDF Suez And Seven Companies File Bid For Hydro Power Plant In Niedzica, Poland 88
Mar 03, 2011: Polish Companies To Stop 1,236 MW Of Generation Capacity 88
Dec 01, 2010: Tauron Group To Buy Coal From Kompania Weglowa 88
Sep 29, 2010: TAURON Group Enters Czech Electricity Exchange 88
Sep 28, 2010: Tauron Polska Appoints Joanna Schmid As New Vice-President 88
Feb 01, 2018: TAURON won tenders for electricity 89
Jun 30, 2016: Clyde Bergemann Wins Another Order for the Supply of Boiler Cleaning Technology to Equip a New 910 MW Power Plant in Poland 89
Mar 30, 2015: Emerson to Automate New High-Efficiency Unit at TAURON Power Plant in Poland 90
Mar 05, 2013: Tauron Polska And Kompania Weglowa Sign Three Years Coal Supply Agreement 90
Oct 12, 2012: Skoda Power Secures Contract From Abengoa To Supply Steam Turbine For Combined Cycle Power Plant In Poland 91
Jul 30, 2012: Ormazabal Polska To Supply CGM.3 Switchgear For Marszewo Wind Farm 91
May 14, 2012: ABB’s Amorphous Core Distribution Transformers Selected By Polish Energy Group And Tauron To Reduce Energy Losses In Power Distribution Networks 91
Mar 07, 2012: Vestas Signs 82 MW Order In Poland 91
Oct 20, 2010: Elektrownia Stalowa Receives Tenders For Construction Of 400 MW Power Unit In Stalowa Wola 92
Jul 14, 2010: Tauron Ekoenergia Invites Tenders To Build 40 MW Wicko Wind Farm 92
Appendix 93
Report Scope 93
GlobalData Coverage 93
Benchmarking 93
GlobalData’s Methodology 93
Secondary Research 93
Primary Research 94
Contact Us 94
Disclaimer 94
Tauron Polska Energia SA, Key Facts 6
Tauron Polska Energia SA, Operational Metrics, Generation 7
Tauron Polska Energia SA, Operational Metrics, Customers 7
Tauron Polska Energia SA, Wind Farms, Poland 8
Tauron Polska Energia SA, Hydro Power Plants, Poland 9
Tauron Polska Energia SA, Biopower Plants, Poland 10
Tauron Polska Energia SA, Thermal Power Plants, Poland 11
Major Products and Services 15
Tauron Polska Energia SA, SWOT Analysis 20
Tauron Polska Energia SA, Ratios based on current share price 23
Tauron Polska Energia SA, Annual Ratios 23
Tauron Polska Energia SA, Interim Ratios 25
Tauron Polska Energia SA, Key Employees 26
Tauron Polska Energia SA, Subsidiaries 29
Tauron Polska Energia SA, Deals Summary 31
Tauron Invests US$75.6 Million For Wicko Wind Farm Project, Poland 32
Tauron Polska Acquires Marszewo Wind Farm 33
Tauron Polska Energia to Acquire 10% Interest in PGE EJ I Nuclear Power Plant in Poland from Polska Grupa Energetyczna 34
Tauron Polska Energia Completes Project Financing of USD205.6 Million for Lagisza Gas Fired Power Plant in Bedzin Lagisza, Poland 35
Elektrocieplownia Completes Project Financing Of USD516 Million For Stalowa Wola Gas Power Plant In Subcarpathian, Poland 36
Tauron Polska Energia to From Joint Venture with ArcelorMittal 37
TAURON Wytwarzanie Receives Approval To Form Joint Venture With KGHM Polska Miedz 38
Tauron Polska Energia to Raise USD112.3 Million in Private Placement of Bonds 39
Tauron Polska Energia Raises USD568 Million in Private Placement of 2.375% Bonds Due 2027 40
Tauron Raises USD560 Million in Private Placement of 2.375% Bonds Due 2027 42
TAURON Polska Energia to Raise USD202 Million in Private Placement of Bonds Due 2034 44
Polski Fundusz Rozwoju to Acquire 14.19% stake in Jaworzno Power Plant Expansion from Tauron Polska Energia for USD235.9 Million 45
