Press releases

On 16 December, Moody's published a long-term rating for PGE Polska Grupa Energetyczna at the level of "Baa1." The rating perspective is stable.

Two companies of the PGE Capital Group, PGE Energia Odnawialna and PGE Górnictwo i Energetyka Konwencjonalna, on 20 November, signed a cooperation agreement on the construction of photovoltaic installations with an area of nearly 100 ha at the Bełchatów Power Plant. The planned project will allow to increase the installed RES capacity in the PGE Group by up to 60 MW.

• After three quarters of 2019 PGE has reached EBITDA results at PLN 6.1 billion, which is 18 percent more than in the corresponding period of the previous year.
• In the reporting period, PGE had a net profit of PLN 2.2 billion, which is 29 percent more than in the same period of the last year.
• The operating cash flow after three quarters of 2019 amounted to PLN 4.8 billion, which is 79 percent more than in the same period of the previous year.
• In 9 months of 2019, the Group produced 43.4 TWh of electricity and sold 32.5 PJ of heat.
• PGE noted a growth of 23 percent in the production of energy from wind due to favourable weather conditions.
• Capital expenditures in the reporting period increased by 19 percent, Y-to-Y, to PLN 4.5 billion. The flagship investment project of the Group has been completed, i.e. the construction of units 5 and 6 of Opole Power Plant and at the end of the third quarter the work at the construction of unit No. 7 in Turów has reached 93 percent of completeness. Also work at the construction of three new wind farms under the name Klaster of the total power of more than 97 MW continues. The project, the completion of which is planned for the 1st quarter of 2020, will increase the installed capacity of PGE's wind farms by 18 percent to nearly 650 MW and thus will strengthen the Group's position as the leader on the renewable energy market.
• PGE wants to be the leader of Poland’s energy transition. The Group actively develops projects such as a photovoltaic farms construction programme and the partners whose land will be used for the project already include Grupa Azoty and Siarkopol, KGHM Polska Miedź and PKP Polskie Koleje Państwowe. PGE Group also continues activities related to obtaining a strategic partner for an offshore project. On 22 October it was decided to invite Ørsted, the world leader in this technology, to the next stage, i.e. the negotiations of transaction documents.
• The Group develops its area of electromobility. In the 3rd quarter, the Group has signed an agreement with the Industrial Development Agency under a project related to the production of electric buses as well as with Polska Grupa Zbrojeniowa (the Polish Armaments Group), Autosan and also with Tauron and Enea, regarding a fleet of specialised electric vehicles for the energy sector. In the reporting period, PGE has also signed a letter of intent for the construction of vehicle charging stations at branch offices of the Social Security Office (ZUS - Zakład Ubezpieczeń Społecznych).

ConnectPoint specializes in IT services for the energy and industrial sectors. Using Data Science tools, the company combines Internet of Things with business processes, thereby improving the decision-making processes in segments such as the production and distribution of energy.

On 10 October, in the Opole Power Plant belonging PGE Górnictwo i Energetyka Konwencjonalna of the PGE Group, the ceremony of completing the construction of two ultramodern generating units No. 5 and 6 with a total capacity of 1800 MW took place. Thanks to the project worth near PLN 11.6 billion, the Opole Power Plant is currently in the world lead the of the cutting edge power plants and meets 8 percent of the domestic demand for electricity. The energy produced in the units is able to supply as many as 4 million households.