Tauron's power station in Jaworzno Courtesy of Tauron

Polish state-controlled utility Tauron has selected a group of banks to establish a strategy for financing investments worth between zł.44 billion and zł.45 billion over the next 10 years.

The consortium includes ING, UniCredit, Commerzbank, Banco Santander and Goldman Sachs, which are expected to jointly develop a strategy for Tauron before the end of this year.

Fundraising, which will most likely be through bond issues, will target domestic investors, Krzysztof Zawadzki, the vice president of the company’s management board, and chief financial officer, told Rzeczpospolita.

Meanwhile Tauron also announced last week that it will enter the gas trading market, via a gas trading unit it plans to establish.

Last week the Polish Energy Regulatory Office approved Tauron’s entry onto that platform.

“The decision is a green light for establishing a gas trading segment in the Tauron Group,” the company wrote in a statement.