The company said it plans to instead invest in renewables, gas-fired generation and the power grid.

Energa intends to have a total generating capacity of about 2,550MW by 2020, comprising 900MW from renewables, 1,000MW from gas-fired, 450MW from coal and 200MW from co-generation units.

The firm is looking to spend nearly $8.1bn through the end of the decade, with half of the investment going for the power distribution network.

Energa chief executive Miroslaw Bielinski was quoted by Reuters as saying that slower than planned construction of new generation is not the main threat to Polish power system’s security.

"The risks to the system’s stability and its development come from the bad condition of the grid," Bielinski said.

The utility said it now seeks for a partner for the project and in case it fails to do so "the project will be frozen until more favorable conditions on the market appear."