This month the British Energis announced that due to cash flow difficulties it would have to pull out of all European investments. Energis Polska has announced that it expects to find an investor within the next six months at the latest and to continue most of its investment plans.
The company claims that there are already several interested parties prepared to invest n it.
Energis Polska can carry on its investment plans thanks to funds from its shareholders Energis plc and the National Grid which each have a 48.7 percent stake in the firm. A further source of income has been a EUR125m loan from the European Investment Bank, received last December.
Energis Polska is expecting to see operational profits by the beginning of next year.
Profitability will be aided by reducing investment costs. Energis originally intended to invest USD300m in Poland up until the end of 2006, this sum has now been reduced by USD50m and a further USD80m will be placed on top of the USD170m already committed on the construction of infrastructure.