Briefly: Two independent reports on Poland’s planned Ostrołęka C will be released today by our Polish colleagues. The reports were developed by scholars and professionals of the power industry, and present a risk analysis, a critique of the investment analysis and environmental issues, and alternative solutions for the Polish energy sector. This is a clear signal for stockholders of Energa and Enea companies that investing in Ostrołęka C is irrational in business terms.
Key Points
Experts are warning investors that they will be gambling with terrible odds if they support the planned Ostrołęka C coal power plant in Poland, as the plant is not only facing huge cost overruns for it to meet emissions rules before construction has even begun; but it will also be competing with lower-cost renewables in a power market which does not guarantee it funding.
Ostrołęka C also makes absolutely no sense for workers, as investing in renewable energy rather than a new coal plant will create at least 45% more jobs in the region.
Analysis of this project shows that investing in new coal in Poland will be a total waste of money that creates far more problems than benefits. It will lead to a significant rise is health problems for people and healthcare costs for the state, it will create fewer jobs than clean, renewable alternatives, and it will leave investors will a high risk of being stuck with a stranded asset.
Resources
Reports: The risk analysis related to the Ostrołęka c power plant development & Ostrołęka c – the investment rationale, and why is the project not rational at all
Press Briefing info
Website: Stop Ostrołęka C Power Plant
Profile: Operator Enea
Coverage: Poland’s Energa selects GE for new 1-GW coal-fired plant project (Platts)
Quotes
“The Ostrołęka C power plant is an entirely irrational project in the context of the global transformation of the power industry. It will also damage chances for the real development of this region” – prof. Jan Popczyk of the Silesian University of Technology
Suggested tweets
Experts are warning investors that they will be gambling with terrible odds if they place their bets on Poland’s planned new Ostrołęka C #coal plant, calling it “financially irrational” (and that’s putting it lightly!) [WEBSITE LINK] [GRAPHIC]
Investing in renewables instead of the new Ostrołęka C #coal plant in Poland will result in 45%-1200% more jobs. New coal will be a disaster for Poland, for its workers, for community health, and for investors. [WEBSITE LINK] [GRAPHIC]
Contact persons
Radosław Ślusarczyk, Workshop for All Beings Organization, tel. 660 538 329; e-mail: suchy@pracownia.org.pl
Robert Wawręty, Society for Earth, tel. 508 585 130, e-mail: robert@tnz.most.org.pl
Report:Jan Popczyk, Kzysztof Budzek
Report: Michał Hetmański, Filip Piasecki
