September 30, 2008
RWE Stoen Renamed As RWE Polska to Reflect Renewed Regional Focus
German utility major RWE Energy has announced that its subsidiary, RWE Stoen, is changing its name to RWE Polska as part of its wider strategy in Poland. The new name is expected to reflect the RWE Group's development efforts and expansion in the Polish market.
RWE supplies almost one million Polish customers with electricity, mainly around Warsaw. RWE Polska will now offer electricity throughout the country. Furthermore, RWE is investing in environmentally friendly, low-emission power generation based on fossil fuels and renewable energies in Poland.
In Silesia the company plans to partner with Kompania Weglowa to build what will reportedly be Poland's most modern hard coal power plant with an installed capacity of 800MW, accounting for an investment volume of E1.5 billion.
Currently, two wind parks are being constructed with 80MW of installed capacity. Plans are to later expand this generation capacity by 500MW.
Filip Thon, CEO of RWE Polska, said: "The Polish market is of great significance for RWE. Our investments have a total value of some E2.5 billion, which makes RWE the largest single foreign investor in Poland."