First suggestion that the Eektrownia Północ project would be sold appeared in July 2014 when Polish Energy Partners (PEP) took over the assets of Elektrowia Północ’s owner – Polenergia Holding, subsidiary of Kulczyk Investemnts. In a comprehensive interview for wnp.pl, PEP’s CEO stated that with the current, low wholesale prices of energy the project would be unprofitable. He also revealed that in case of increase in energy prices, which would ensure its profitability, the investment would be either executed or sold with profit.

Today it is clear that the second option has won. In the wnp.pl Polenergia has informed the public that Elektrownia Północ will be sold in 2016. The group doesn’t exclude the possibility that the investment will be executed, but such decision depends on ‘appearance of certain favorable market signals’ and shareholders’ agreement.

‘The investor’s decision confirms what the NGOs have been saying for a long time. In the era of climate protection and rapid development of renewable energy building new coal-fired power plants is simply unprofitable. Current economic reality make coal history, which the shareholders are perfectly aware of. It’s high time that the investors abandon projects harmful to both, humans and the environment, and instead support energy of the 21st century – clean and safe for the region’ – says Radosław Ślusarczyk from the Stop Elektrowni Północ coalition.

With 1600 MW capacity the Elektrownia Północ planned in the Rajkowy municipality, near Pelplin, Pomerania, is going to become one of the largest coal-fired power plants in Poland. Its construction and exploitation in the precious agricultural region entails many serious negative socio-environmental impacts, including devastation of the Vistula River ecosystem, serious consequences for agriculture, such as water and soil pollution, a grave threat to human health and to the Teutonic Castle in Malbork, a UNESCO world heritage site.

The Elektrownia Północ project has not obtained all the necessary permits yet and keeps arousing strong opposition among local citizens. Among them are local farmers and organizations who have pointed out numerous environmental threats that stem from this project.

Read More: Elektrownia Północ unprofitable? Pomerania citizens to pay the difference