Wasted millions. Devastating audit at Enea
Enea Group, one of the key players on the energy market in Poland, has revealed the results of audits and inspections. The results indicate numerous irregularities related to the actions of the previous management.
Particularly noteworthy are the controversial purchase of biomass from the United Arab Emirates, fictitious employment and the lack of implementation of projects by the subsidiary Enea Innowacje.
Biomass purchase from Dubai – financial irregularities
During the presentation of the results for the first half of 2024, it was revealed that Enea transferred over USD 18.9 million to the Dubai-based company Arkan in 2022. In return, it received only 30,000 tons of biomass, worth only USD 5.7 million. This raised serious doubts about the transparency of the transaction.
Fictitious employment and lack of Enea Innovations projects
Enea Innowacje, a subsidiary, has not implemented any project for eight years, despite receiving PLN 50 million. The audit also revealed a number of fictitious employments, which undermines the effectiveness of the management board’s actions in previous years.
Irregularities in the Enea Foundation
The Enea Foundation audit revealed serious financial abuses, especially in 2023. In the period from August to October 2023, the foundation transferred 61% of total donations, which amounted to PLN 9.7 million. The total amount of donations increased to 716, while in previous years this number did not exceed 250.
Unfortunate Ostrołęka
The investment in Ostrołęka C Power Plant resulted in a loss of PLN 657 million, and sponsorship activities and grid connections were also investigated. Enea filed a PLN 10.5 million refund application to the Polish National Foundation in connection with abuses in financing election and referendum campaigns in 2023.
Summary and Corrective Steps
Dalida Gepfert, Vice President of Finance, noted that a thorough review of the Enea Group’s operations has enabled the elimination of wasteful spending. Enea plans to redirect resources to the green transformation to ensure more efficient management of funds and the implementation of key goals.
