Polska Grupa Energetyczna (PGE) has finalized contracts for the construction of modern gas units in Rybnik and Gryfino. The investment, worth nearly PLN 6 billion and carried out by a consortium involving Polimex Mostostal, is of key importance for the transformation of the Polish energy sector. However, the project is accompanied by social tensions in Silesia, where workers at the existing coal-fired power plant in Rybnik are protesting over fears of mass layoffs.

Billions for New Units

PGE will spend PLN 6 billion on modern gas power plants in Rybnik and Gryfino, implemented by the Polimex Mostostal consortium.

Worker Protests in Rybnik

Over 400 people fear losing their jobs due to the decommissioning of coal-fired units, calling the changes a destruction of the region.

Government's Coal Reserve

The Ministry of Climate is considering keeping some coal-fired units as a safeguard for the energy system.

Kulczyk Fund Expansion

Nextus Capital is starting investments in warehouses and housing, diversifying the portfolio of the Kulczyk Group.

Polska Grupa Energetyczna (PGE) is taking a milestone step towards systemic transformation by signing contracts for the construction of gas peaking units in two strategic locations: Rybnik and the Dolna Odra power plant in Gryfino. The total cost of these projects amounts to PLN 6 billion. The main contractor for the work is a consortium that includes Polimex Mostostal, which has positively impacted the company's stock market valuation. The new units are intended to play a stabilizing role in the system, replacing decommissioned capacities based on hard coal and lignite, which are becoming increasingly unprofitable due to CO2 emission allowance prices. However, the investment in Rybnik is accompanied by deep social anxiety. Unionists and workers at the Silesian power plant organized protests on the day of the visit by representatives from the climate ministry, warning that the transformation in its current form will lead to the elimination of over 400 jobs and the marginalization of the region. The protesters describe the government's actions as "destruction," not a just transition. In response to these concerns, Deputy Climate Minister Miłosz Motyka suggested that the government is considering keeping some coal-fired units in cold reserve to ensure the country's energy security and mitigate the social effects of moving away from coal. For decades, the Polish energy sector has been based on coal, which, in the face of EU climate policy, forces a rapid modernization of generation infrastructure towards low-emission sources. Parallel to major state investments, private capital linked to Poland's wealthiest individuals is becoming active in the real estate market. The Nextus Capital fund, belonging to the Kulczyk Group, announced the launch of its first development projects. The fund's strategy initially involves the development of modern warehouse space, with plans to enter the residential market in the longer term. This activity shows that, despite turmoil in the energy sector, the Polish capital market is still seeking stable returns in logistics infrastructure and commercial real estate. „Rząd myśli o zachowaniu części bloków węglowych.” (The government is considering keeping some coal-fired units.) — Miłosz Motyka

Mentioned People

  • Miłosz Motyka — Deputy Minister of Climate and Environment, negotiating issues related to the coal reserve.
  • Sebastian Kulczyk — Owner of Kulczyk Investments, with which the Nextus Capital fund is associated.