Investors welcome Poland's decision to freeze last coal-fuelled plant project

(Reuters, 14 Feb 2020) Ostroleka, which was expected to be completed in 2023, has been opposed by environmentalists who say it would deepen Poland's reliance on coal and is not economically justifiable

WARSAW, Feb 14 (Reuters) - Shares in Polish state-run utilities Energa and Enea gained on Friday after they froze financing of their joint project to build 1 a GW coal-fuelled power unit, citing difficulties raising funds due to environmental concerns.

The ruling conservative Law and Justice Party (PiS) revived the long-dormant project in 2016 after winning an election the year before on a pledge to sustain Polish coal mining.

Construction of the plant in Ostroleka, north-east Poland has already started, but Energa and Enea have not secured full financing as banks have shied away from backing such projects for environmental and sustainability reasons.

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Reuters, 14 Feb 2020: Investors welcome Poland's decision to freeze last coal-fuelled plant project