The construction project and financing of this investment as “project – finance” was prepared and supervised by the first Owner, the American corporation Enron (with its seat in Houston, Texas). The ENS construction was started in mid 1998, and the power plant began its commercial operation on 1 June 2000.
The investment project was based on a long term fuel supply agreement and long term energy and heat purchase agreements, that guaranteed repayment of the loan taken for the construction of the power plant. In 1997 ENS signed a long term power purchase agreement with Polskie Sieci Elektroenergetyczne (“PSE”), and in 1998 signed a 20-year thermal energy supply agreement with a local chemical plant “Organika-Sarzyna”. Furthermore, since 2000, ENS has been selling heat to the citizens of Nowa Sarzyna.
For the first 20 years of operation gas was supplied by Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) and in 2020 by a gas trading company belonging to the PGNiG Group. Now gas is supplied by a gas trading company from the Polenergia Group.
After the bankruptcy of Enron, ENS was part of a group of companies in a good financial position, managed by an American energy group Prisma Energy which was created for this sole purpose, latterly this was transferred to Ashmore Energy, and then into AEI.
In 2007, after implementation of the Act on earlier termination of the long term contracts for sale of electric energy and capacity, ENS and PGE (former PSE) terminated as of 1 April 2008 the power purchase agreement in exchange for a compensation program that is managed by Zarzadca Rozliczen S.A. (the compensation scheme was valid till end May 2020). At the same time, the company executed a power purchase agreement with a trading company that expired in 2019.
In 2011 ENS was acquired by Kulczyk Investments, a company of Polish origin. Currently the company is a part of the Polenergia Group, with its headquarters in Warsaw.
Since 2020 ENS sells energy to a trading company from Polenergia Group. Heat is still supplied to the nearby chemical plant and local municipality.
Since 2021 ENS is also equipped with the 0.889 MW photovoltaic installation, used to cover its own electricity needs.