Frost & Sullivan: Wind energy in Poland increasingly profitable

The share of energy from renewable sources in the national electric energy production between 2006-2009 rose by over 3% and now accounts for over 6% of the net electric energy production.

Analysts from Frost & Sullivan indicate that the most significant rise of installed power from among other types of renewable energy sources in Poland can be observed in the wind energy sector. The power of wind parks in Poland rose within last year by 40%, from 544MW in 2008 to 725MW in 2009. The expected increase in 2010 should equal 195MW. According to Frost & Sullivan the dynamic increase of the sector was to a large extent influenced by the accessibility of additional finance sources in Poland and the influx of foreign investors attracted by the high price for the certificates which testify to the generation of 1 MWh of green energy.

Polish Market

ECONOMIC MONITOR

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• ● In December 2009 and January 2010, as in previous months in the second half of 2009, the Polish economy stood out against other countries in terms of GDP growth. Poland’s economic growth was higher than projected and higher than in other European countries.
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• In 2009 construction output increased by 3.7%.
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• Retail sales increase in most product groups.
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• On the Warsaw Stock Exchange, stock prices were very volatile in January 2010.
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• At the end of December 2009 the registered unemployment rate (claimant count rate) amounted to 11.9% versus 11.4% in November.
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• At the end of January the president signed the 2010 budget bill into law. The bill was adopted by the parliament on December 18.
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• In the fourth quarter of 2009 the Polish economy turned out to be more resistant to the global crisis than had been projected and than the economies of Polish neighbours, something which boosts optimism in forecasts for 2010 and the next years.
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WEEKLY MARKET ANALYSIS

Retail sales up again in June
Retail sales growth in nominal terms accelerated in June to 6.4% y-o-y from 4.3% y-o-y in May. The increase was higher than expected. In real terms, retail sales growth accelerated to 4.5% y-o-y from 2.0% y-o-y. June was a consecutive month with retail sales figures stronger than expected, which indicates that consumption is recovering after it slowed significantly at the beginning of the year. Private consumption is driven by an improvement on the labour market coupled with a rise in disposable incomes. In Q2 2010 retail sales grew by around 3% y-o-y in nominal terms and around 1% y-o-y in real terms. On the basis of retail sales and industrial production data, it can be estimated that the GDP growth rate was close to 3%.

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