Beacon is pleased to announce an agreement for the purchase of 12 locomotives from Polish operator Rail Polska. The purchase is for 2 x M62M and 10 x 207E locomotives, which will be leased back to Rail Polska on long-term contracts. This transaction further facilitates an ongoing project which Rail Polska commenced in 2015 to manufacture and bring to market a sustainable electric locomotive product, the 207E, through the conversion and life extension of the M62. The locos received certification for operation in March 2019 from the Polish rail safety regulator UTK.
Beacon will purchase the 207E locomotives in line with their conversion, under a manufacturing program which will be led by Rail Polska’s team. This follows on from the introduction of the 207E into the Polish market in 2017 and the subsequent success of the first 2 converted locomotives which are now in operation. Against the backdrop of emissions targets, heavy maintenance costs, high replacement costs and ageing rolling stock, the introduction of the 207E is a welcome solution within the industry.
All the locomotives will continue to support Rail Polska’s range of operations from its main bases in Oświęcim and Wrocław. The locomotives conversion program has already commenced with 8 more 207Es expected to be delivered under the agreement and placed into service by 2024.
This announcement marks the commencement of a new partnership between Rail Polska and Beacon, which is supported through established expertise in modernisation and conversion programs in Poland.
For any further enquiries about this transaction or for the Polish market, please contact Viren Walia.
Edward Burkhardt, President of the Board of Rail Polska, said:
“We are pleased to form a partnership with Beacon to support our locomotive manufacturing operations and provide additional motive power for our growing train operations. The Polish leasing and rolling stock finance market hasn’t had the capacity to provide the financing we require. Beacon takes a long-term view of the value of locomotive assets, a view we share. We are excited to have signed an agreement covering 12 locomotives, four of which are already in operation, with 8 more to be produced in our shops in the next several years.”
Rob Dee, Chief Commercial Officer of Beacon Rail, said:
“Beacon Rail welcomes this opportunity to grow our presence in Poland both with a new customer in Rail Polska and the acquisition of additional locomotives which further expands our fleet.”
Chief Commercial Officer
Rob Dee continues:
“We see this transaction as the start of an exciting new partnership with Rail Polska, underlining our admiration for their innovation in bringing to market an electric locomotive solution by extending the life of the M62, which is seen as a true workhorse in the Polish market. We look forward to developing future collaborative projects from this new relationship.”
About Rail Polska
Rail Polska Sp. z o.o. is a Polish railway freight company based in Warszawa. It was established by Edward A. Burkhardt and others in 1999 to participate in the fast-growing Polish economy, and specifically in the liberalization of the nation’s railway sector. It started by buying several small private switching railways serving large industrial facilities which included a number of shunting locomotives and freight wagons and, on this foundation, Rail Polska owns 52 locomotives and 1038 freight wagons and has approximately 366 employees.
About Beacon Rail Leasing
Beacon Rail Leasing are a rolling stock leasing company headquartered in Luxembourg and focused on serving the European and UK markets. Beacon Rail Leasing’s current portfolio includes 346 locomotives, a 1,000 freight wagons, and 575 passenger train vehicles and intercity coaches on lease across Europe. Beacon Rail Leasing has an industry leading management expertise and capital markets experience, enabling it to meet the equipment needs of its Pan-European customer base.