Go-ahead for Joint Venture

CM European Power International is the first entity of CEZ-MOL Joint Operation with initial capital of € 8.3 million.

CEZ and MOL signed a strategic alliance agreement in December 2007. A joint venture in which each party has 50 per centequity interest, equal voting rights and similar split of operational decision making, will focus on gas-fired power generation and related gas infrastructure in 4 countries of Central and South-eastern Europe, including Slovakia, Hungary, Croatia and Slovenia.

The first major investment is the planned construction of CCGTs at the refineries of the MOL group in Bratislava (Slovakia) and Százhalombatta (Hungary). At each location the installed capacity will be 800 MW. In addition, in Bratislava, the current thermal plant will be modernized and its capacity increased to 160 MW. The expected investment cost in both projects will be approximately €€1.4 billion .

Meanwhile, the Czech energy group Skupina CEZ has announced that it has raised electricity production from biomass by 59.5 percent to 169 gigawatt-hours in the first half of this year.

Polish power plant Skawina produced more than 38 gigawatt-hours.

However, despite the growth, electricity from biomass represents just a fraction of all electricity produced by CEZ.

In the first half of last year, CEZ produced some 106 gigawatt-hours of electricity from biomass. A year earlier, it was around 84 gigawatt-hours.

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