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
Major Products and Services 14
History 15
SWOT Analysis 19
Overview 19
Tauron Polska Energia SA Strengths 19
Vertically Integrated Operations 19
Market Position 19
Cost Efficiency 19
Tauron Polska Energia SA Weaknesses 20
Increasing Trade Receivables 20
Tauron Polska Energia SA Opportunities 20
Demand for Electricity: Poland 20
Growing Renewable Energy Market 20
Tauron Polska Energia SA Threats 20
Environmental Laws and Regulations 20
Competition 20
Operational Issues 20
Financial Ratios – Capital Market Ratios 22
Financial Ratios – Annual Ratios 22
Financial Ratios – Interim Ratios 24
Key Employees 25
Key Employee Biographies 26
Company Statement 27
Locations And Subsidiaries 28
Head Office 28
Other Locations & Subsidiaries 28
Financial Deals Landscape 30
Tauron Polska Energia SA, Deals Summary 30
Tauron Polska Energia SA, Power, Deal Details 31
Asset Transactions 31
Tauron Invests US$75.6 Million For Wicko Wind Farm Project, Poland 31
Tauron Polska Acquires Marszewo Wind Farm 32
Tauron Polska Energia to Acquire 10% Interest in PGE EJ I Nuclear Power Plant in Poland from Polska Grupa Energetyczna 33
TAURON Ekoenergia Acquires Lipniki Wind Farm From WSB Neue Energien 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 Announces Project Financing Of US$74 Million For Construction Of Biomass Boiler At Jaworzno III Power Plant In Poland 37
Tauron Polska Completes Project Financing Of US$11 Million For Reconstruction Of Biomass Power project, Poland 38
Partnerships 39
Tauron Polska Energia to From Joint Venture with ArcelorMittal 39
TAURON Wytwarzanie Receives Approval To Form Joint Venture With KGHM Polska Miedz 40
Debt Offering 41
Tauron Polska Energia to Raise USD112.3 Million in Private Placement of Bonds 41
Tauron Polska Energia Raises USD568 Million in Private Placement of 2.375% Bonds Due 2027 42
Tauron Raises USD560 Million in Private Placement of 2.375% Bonds Due 2027 44
TAURON Polska Energia to Raise USD202 Million in Private Placement of Bonds Due 2034 46
Tauron Polska Increases Size Of Its Domestic Bond Offering To US$1,390.3 Million 47
Tauron Polska Completes Debenture Offering For US$300.1 Million 48
Asset Transactions 50
Polski Fundusz Rozwoju to Acquire 14.19% stake in Jaworzno Power Plant Expansion from Tauron Polska Energia for USD235.9 Million 50
Acquisition 51
Tauron Polska Completes Acquisition Of 99.98% Stake In Gornoslaski Zaklad From Vattenfall For US$1.59 Billion 51
KGHM Polska Miedz Acquires Additional 5.2% Stake In Tauron Polska 53
Recent Developments 54
Tauron Polska Energia SA – Recent Developments 54
Sep 02, 2016: Tauron Group’s 2016-2025 Strategy 54
Mar 20, 2014: TAURON and PIR work together 55
Jul 03, 2013: TAURON to start energy storage 56
Feb 04, 2013: Tauron Polska And BIT Partner To Implement New Energy Storage Technologies 57
Jan 25, 2012: PGNiG Signs LoIs With PGE, Tauron And KGHM For Shale Gas Exploration 57
Aug 22, 2017: TAURON Group’s H1: EBITDA topping PLN 2 billion and net profit of PLN 1 billion 57
May 15, 2017: Good Q1 for TAURON Group 59
Mar 16, 2017: Good results posted by Tauron Group in 2016: stable sales revenue and EBITDA topping PLN 3.3bn 61
Aug 17, 2016: Tauron Group’s H1 2016 results impacted by write-offs 63
May 11, 2016: Tauron Group’s results in line with the market’s expectations 64
Mar 09, 2016: Stable EBITDA, net result impacted by impairment charges and provisions 65
Nov 10, 2015: TAURON Group reports net profit of more than PLN 1bn in Q1-Q3 67
Aug 24, 2015: TAURON Group: Successful first half of 2015 68
May 14, 2015: Tauron Group: Q1 2015 EBITDA tops PLN 1bn 70
Mar 12, 2015: TAURON Group posts good results in challenging 2014 71
Nov 13, 2014: TAURON Group’s Q1-Q3 2014 results stable 72
Aug 21, 2014: TAURON Group’s H1 2014 results top market expectations 74
May 14, 2014: TAURON Group posts sound Q1 results despite a challenging market environment 75
Mar 18, 2014: Higher profitability of TAURON Group in 2013 76
Nov 14, 2013: Increased profitability of TAURON Group in the first three quarters of 2013 77
Aug 22, 2013: Stable financial results of Tauron Group in the first half of 2013 77
May 09, 2013: TAURON Group’s profit increases in Q1 2013 78
Mar 15, 2013: TAURON Group’s good results in 2012 80
Nov 13, 2012: Improvement of TAURON Group’s financial results in Q3 and for the first three quarters of 2012 82
Aug 23, 2012: Good Q2 and H1 2012 results 83
May 10, 2012: TAURON Group: improved results in Q1 2012 85
Sep 07, 2017: Poland to treat coal addiction by embracing nuclear power 86
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 86
Jun 08, 2017: TAURON determined the conditions for potential financing of construction of a new unit in Jaworzno by the Polish Development Fund 87
Jan 30, 2016: Tauron Polska Energia to construct build hybrid power plant 88
Dec 08, 2015: Tauron power’s supervisory board replaces CEO Jerzy Kurella with Remigiusz Nowakowski 88
Jul 02, 2015: Enea and Tauron want to develop renewable capacities together 88
Jul 22, 2014: Poland: EIB fosters renewable energy and energy efficiency investments 89
Oct 21, 2013: TAURON opens Marszewo wind farm 89
Jun 11, 2013: URE Agrees For Local Utilities To Reduce Electricity Prices By 3.9-4.6% 90
Sep 04, 2012: PGE, Tauron Polska, ENEA And KGHM To Sign Agreement For Sharing Construction Costs Of First Nuclear Power Plant In Poland 90
Dec 13, 2011: TAURON May Collaborate With PGE For Construction Of Nuclear Plant In Poland 90
Oct 24, 2011: EIB Provides PLN210m Loan To Upgrade Electricity Generation In Poland 90
Aug 19, 2011: GDF Suez And Seven Companies File Bid For Hydro Power Plant In Niedzica, Poland 90
Mar 03, 2011: Polish Companies To Stop 1,236 MW Of Generation Capacity 90
Dec 01, 2010: Tauron Group To Buy Coal From Kompania Weglowa 91
Sep 29, 2010: TAURON Group Enters Czech Electricity Exchange 91
Sep 28, 2010: Tauron Polska Appoints Joanna Schmid As New Vice-President 91
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 91
Mar 30, 2015: Emerson to Automate New High-Efficiency Unit at TAURON Power Plant in Poland 92
Mar 05, 2013: Tauron Polska And Kompania Weglowa Sign Three Years Coal Supply Agreement 92
Oct 12, 2012: Skoda Power Secures Contract From Abengoa To Supply Steam Turbine For Combined Cycle Power Plant In Poland 93
Jul 30, 2012: Ormazabal Polska To Supply CGM.3 Switchgear For Marszewo Wind Farm 93
May 14, 2012: ABB’s Amorphous Core Distribution Transformers Selected By Polish Energy Group And Tauron To Reduce Energy Losses In Power Distribution Networks 93
Mar 07, 2012: Vestas Signs 82 MW Order In Poland 94
Oct 20, 2010: Elektrownia Stalowa Receives Tenders For Construction Of 400 MW Power Unit In Stalowa Wola 94
Jul 14, 2010: Tauron Ekoenergia Invites Tenders To Build 40 MW Wicko Wind Farm 94
Appendix 95
Report Scope 95
GlobalData Coverage 95
Benchmarking 95
GlobalData’s Methodology 95
Secondary Research 95
Primary Research 96
Contact Us 96
Disclaimer 96
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 14
Tauron Polska Energia SA, SWOT Analysis 19
Tauron Polska Energia SA, Ratios based on current share price 22
Tauron Polska Energia SA, Annual Ratios 22
Tauron Polska Energia SA, Interim Ratios 24
Tauron Polska Energia SA, Key Employees 25
Tauron Polska Energia SA, Subsidiaries 28
Tauron Polska Energia SA, Deals Summary 30
Tauron Invests US$75.6 Million For Wicko Wind Farm Project, Poland 31
Tauron Polska Acquires Marszewo Wind Farm 32
Tauron Polska Energia to Acquire 10% Interest in PGE EJ I Nuclear Power Plant in Poland from Polska Grupa Energetyczna 33
TAURON Ekoenergia Acquires Lipniki Wind Farm From WSB Neue Energien 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 Announces Project Financing Of US$74 Million For Construction Of Biomass Boiler At Jaworzno III Power Plant In Poland 37
Tauron Polska Completes Project Financing Of US$11 Million For Reconstruction Of Biomass Power project, Poland 38
Tauron Polska Energia to From Joint Venture with ArcelorMittal 39
TAURON Wytwarzanie Receives Approval To Form Joint Venture With KGHM Polska Miedz 40
Tauron Polska Energia to Raise USD112.3 Million in Private Placement of Bonds 41
Tauron Polska Energia Raises USD568 Million in Private Placement of 2.375% Bonds Due 2027 42
Tauron Raises USD560 Million in Private Placement of 2.375% Bonds Due 2027 44
TAURON Polska Energia to Raise USD202 Million in Private Placement of Bonds Due 2034 46
Tauron Polska Increases Size Of Its Domestic Bond Offering To US$1,390.3 Million 47
Tauron Polska Completes Debenture Offering For US$300.1 Million 48
Polski Fundusz Rozwoju to Acquire 14.19% stake in Jaworzno Power Plant Expansion from Tauron Polska Energia for USD235.9 Million 50
Tauron Polska Completes Acquisition Of 99.98% Stake In Gornoslaski Zaklad From Vattenfall For US$1.59 Billion 51
KGHM Polska Miedz Acquires Additional 5.2% Stake In Tauron Polska 53
