Press releases

The PGE Capital Group publishes its financial and operating results for the first half of 2020. The results achieved in the lignite/hard coal power generation segment confirm the correctness of the Group's transformation towards low- and zero-carbon emissions. In the autumn of 2020, the Group will present its new strategy indicating the directions of development of Poland's largest power utility for the next 10 years with an outlook to the year 2050.

The PGE Capital Group publishes its financial and operating results for the first half of 2020.  The results achieved in the lignite/coal power generation segment confirm the correctness of the Group's transformation towards low- and zero-carbon emissions.

• The reported EBITDA of the PGE Group in H1 2020 amounted to PLN 2.8 billion. The decrease was mainly due to one-off factors such as additional CO2 emission allowances for the previous year and higher levels of the land rehabilitation and actuarial provisions in H1 2020.
• The recurring EBITDA of PLN 3.1 billion was at the level similar to that of last year in the absence of any significant impact of COVID-19 on H1 2020.
• The lower results of the Conventional Power Generation segment (EBITDA of PLN 774 million, a 63% year-on-year decrease) and the Heat Generation segment  (EBITDA of PLN 493 million, a 36% year-on-year decrease) were caused mainly by a reduction in the number of free CO2 emission allowances and their higher purchase costs.
• The volume of power generated from conventional sources was slightly lower (27.2 TWh, a 4% year-on-year decrease). The decrease was partly offset thanks to power generation from the new units in the Opole Power Plant.
• The Renewable Power Generation sector recorded a slightly lower result (EBITDA of PLN 301 million, a 3% year-on-year decrease) in consequence of lower market prices of electricity, adjusted by increased power generation from wind farms (0.78 TWh, a 15% year-on-year increase).
• The lower result of the Distribution segment (EBITDA of PLN 1.1 billion, a 7% year-on-year decrease) was caused by a general decrease in demand for electricity in the National Power System (KSE) following the outbreak of the COVID-19 pandemic. 
• The lower result of the Trade segment (EBITDA of PLN 187 million, a 60% year-on-year decrease) was caused mainly by lower electricity sales in consequence of a fall in demand.

PGE has acquired the Skoczykłody Wind Farm with a total capacity of 36 MW, located in the Łódź Voivodeship. The project will allow to increase the total installed capacity of PGE wind farms by over 5% and will strengthen the company as the largest producer of “green” energy in Poland.

Environmental research related to the construction of one of Poland's largest photovoltaic farms in Poland is underway. The investment project is being carried out by PGE Energia Odnawialna, a member of the PGE Group. The PV farm will have been completed by the end of 2020. It will be located  in the commune of Grębów in the Podkarpacie province, on nearly 152 ha of rehabilitated land used in the past for sulphur mining operations by the company Siarkopol Tarnobrzeg.

From today, a city the size of Lublin will have electricity from the wind. The PGE Group has launched two new wind farms, Starza/Rybice and Karnice II. The investment project in the north-western part of the West Pomeranian Voivodeship comprises 43 turbines with a total installed capacity of nearly 100 MW. The project has increased the total installed capacity of PGE's wind farms by 20 percent to near 647 MW and strengthened the Group’s position as the Poland's largest manufacturer of green energy.