Rymarz Zdort advised PGE Energia Ciepła S.A. (“PGE EC”), an entity of the capital group of PGE Polska Grupa Energetyczna S.A. ("PGE Group"), in the final stage of the consolidation of its assets. The last phase of the consolidation included the carve-out of PGE Górnictwo i Energetyka Konwencjonalna S.A. (“PGE GiEK”), which led to the transfer of the Szczecin and Pomorzany heat and power plants (CHPs) and the district heating network in Gryfino to PGE EC.
The transaction is a part of the PGE Group’s implementation of its District Heating Strategy, 2018-2023. Rymarz Zdort additionally advised PGE EC on the transfer by way of a carve-out of the Rybnik Power Plant to PGE GiEK, as well as the transfer of six CHP plants (branches in Kielce, Gorzów Wielkopolski, Rzeszów, Lublin, Zgierz and Bydgoszcz) from PGE GiEK to PGE EC.
“The consolidation process of the heating assets, in which we have actively been involved since 2018, led to the establishment of a single entity that is now the clear market leader in the heating sector in Poland.” - summarises Marek Durski, a partner in the corporate department of Rymarz Zdort and the head of the energy and natural resources practice.
The team involved in the project included, among others: Marek Durski, partner; Aleksandra Kabać, senior associate; and Andrzej Granat, associate.