Ferrovial and Técnicas Reunidas fined 122 million euros for a power plant in Poland

Both companies defend that the penalty is unfounded

MADRID, 29 May. (EUROPA PRESS) -

A consortium made up of Budimex (the Polish subsidiary of Ferrovial), Técnicas Reunidas and Mitsubishi has been fined 122 million euros by PGE, the main Polish electricity operator listed on the Stock Exchange, which commissioned these companies to carry out the expansion works of a coal power plant located in this country and whose delivery would have been delayed.

PGE argues in a statement to the market that this penalty responds to the contractual breach of the consortium to ensure that the plant was available during the first year of warranty, something that would not have happened after having to stop the production unit for several days last year.

Specifically, the two Spanish companies and the Japanese handed over the facilities in May 2021, six months later than initially agreed, given the disruptions caused by the pandemic. However, this was not a reason for delay since both parties agreed to this extension.

Although the Polish company does not specify the reason for the sanction, the disputes could be explained by the interruptions in the service registered in October of last year. On the 4th of that month, the unit was switched off and was not restored until a few weeks later, within the contractual guarantee period. In June, it was also stopped, but both sides said it was planned.

Sources from Técnicas Reunidas have explained to Europa Press that the client's claim is "unfounded", for which they have considered that there is no reason for any claim. The same position has been adopted by Budimex, which, in a statement, has stated that it will not include this penalty in its accounts, defending that these stoppages were due to inspections agreed with PGE.

The participation of Técnicas Reunidas in the project is 23% and that of Ferrovial's Polish subsidiary 24%. Budimex has also defended that PGE cannot deduct the contractual penalty to satisfy its claims, as a consequence of the laws approved in Poland in the framework of the health crisis.

The contract was awarded in 2014 for 770 million euros and consisted of the expansion of the Turów plant, located in the Southwest of the country, through the construction of a new energy block with a maximum power of 450 megawatts (MW).