Polski Koncern Naftowy ORLEN Spólka Akcyjna : Signing a letter of intent between PKN ORLEN, LOTOS Group and ENERGA concerning analysis of possibilities of realization of common investment

PKN ORLEN S.A. ('PKN ORLEN', 'Company') informs that on 2 November 2020 there has been signed a letter of intent between the Company, LOTOS Group S.A. and ENERGA S.A. ('Letter of intent'), ('Parties'), in which the Parties declared the will to start the common talks to analyze possibilities and conditions of common investment, ie. building a gas power plant in Gdansk by July 2026 ('Project'). The scope of Project includes analysis and choice of the optimal configuration of the plant (technology, efficiency, power) and its location.

According to provisions of the Letter of intent the Parties will conduct talks to agree the assumptions and conditions of the Project regarding mainly the following issues:

• To agree law and technical conditions to realize the Project by the Parties as well as any other factors that could influence the Project realization;

• To agree rules of financing of the Project;

• In case of gas plant building: preparing a joint venture agreement regulating rules of cooperation of the Parties in Project realization;

• To agree other conditions of the Project realization.

The Letter of intent, signed today, binds the Parties by the time the certain agreements are concluded, however not later than 31 December 2021.

​

Go back to previous page.