The Czech state-run power group ČEZ is considering shifting its strategy, focusing on its domestic market in the Czech Republic and divesting some assets in Bulgaria, Romania, Turkey and Poland. This strategic move will be reviewed by the annual general meeting in late June 2019.
The group will leave Bulgaria in the coming years; the 1,265 MW Varna coal-fired power plant, which had been idle since December 2014, was sold in 2017 and continuous tensions with the Bulgarian government prompted the group to announce the sale of its remaining assets, including power distribution activities, in early 2018. The transaction was blocked by the Bulgarian Commission for Protection of Competition but ČEZ still intends to divest its Bulgarian assets. The group is also considering exiting from Romania (622 MW of wind parks) and Turkey (904 MW of CCGT) and it might leave Poland, where it operates two coal-fired power plants with a combined capacity of 681 MW. ČEZ used to be active in the power distribution sector in Albania but had to withdraw after tensions escalated with the government.
ČEZ aims to focus on the construction of new nuclear reactors in the Czech Republic, on modernising its power distribution network and on developing renewables and energy services in the country. The group also plans to develop energy services in Slovakia, Germany and Poland. The group, which owns 134 MW of wind projects under development in Germany and plans to build another 200 MW, along with wind projects in France, would keep these projects.
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