Report 1/2025 - Update on a significant Agreement for modernisation of the technological part of ESP Porąbka-Żar power plant
The Management Board of Mostostal Warszawa S.A. (the ‘Company’) announces, with reference to current report No. 12/2022 of 22 July 2022, that the Company today became aware that the Court, effective 7 January 2025, approved the mediation settlement between the Consortium of companies: Mostostal Warszawa S.A. (Partner - share in the consortium of 44.86%) and GE Hydro France S.A.S. (Leader - share in the consortium of 55.14%), with PGE Energia Odnawialna S.A. to the agreement for the execution of the modernisation of the technological part of ESP Porąbka-Żar in the mode of the general contractor, implementing the valorisation annex to this contract.
The provisions of the above-mentioned Annex increase the Contractual Remuneration by the gross amount of PLN 168,991,721.87, which constitutes 15% of the value of the Remuneration as at the date of concluding the Agreement, and update the Material and Financial Schedule taking into account the increase in the Remuneration and the distribution of Milestones and their payments.
The updated Contractual Remuneration currently amounts to PLN 1,295.60 million gross.