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Tauron terminates long-term deals with wind farm operators
Credit: The Warsaw Voice | March 20, 2015 | www.warsawvoice.pl ~~
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Translate: FROM English | TO English
PE PKH, a unit of power group Tauron, terminated long-term power and certificates of origin purchase agreements with 12 wind farm operators, citing the latters’ reluctance to re-negotiate the contracts in good faith, Tauron said in a market filing and a press statement.
The termination comes after more than two years of attempts at getting wind farm operators to renegotiate the terms of the agreements, adjusting them to new conditions on the market of certificates of origin, Tauron said in a press statement.
“The reason for the termination of the contracts by PE PHK was its partners’ persistent claim that the renegotiation conditions defined in the agreements never existed and do not exist,” the statement reads. “As a result, the owners of wind farms refused to participate in good faith in re-negotiating particular agreements.”
The respective agreements were signed for a long term but did not provide for a fixed price independent from market conditions, Tauron said.
The 12 clients whose deals were terminated include units of power firm Polenergia, American-Polish consortium INV Energy/Enerco, and German Inventus.
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