Corporate

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.

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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.

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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.

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At the request of Baltica 1 Wind Power Plant, a PGE Capital Group company, Polskie Sieci Elektroenergetyczne S.A., Poland's transmission system operator, has issued requirements for connecting the 896 MW offshore wind farm to the national power grid. This is another stage in the offshore wind farms project being carried out by PGE Polska Grupa Energetyczna.

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Signatures are being collected among the inhabitants of the counties of Zgorzelec, Bolesławiecki and Lubański, who oppose the efforts of the Czech to liquidate the Turów Mine and Power Plant. The PGE Group supports these activities by emphasizing that the Turoszów energy complex is one of the key elements of the Polish energy system, operates on the basis of a license granted in accordance with the law, as well as meets all environmental standards and provides jobs for thousands of inhabitants of the region. 

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PGE Group published its financial and operating results for the first quarter of 2020. The green direction followed by the Group contributes to the Group's financial performance and mitigates the impact of market pressure on conventional sources.

  • Relatively flat EBITDA posted by the Group (year-on-year decrease by 2% to PLN 1.8 billion) despite market pressure and negative impact of weather conditions.
  • Weaker performance of the Conventional Generation segment (EBITDA of PLN 497 million, down 27% year-on-year) and District Heating segment (EBITDA of PLN 342 million, down 13% year-on-year) mainly due to higher costs of CO2 emission allowances.
  • Slightly lower generation from conventional sources (at 14.5 TWh, down 2% year-on-year), a decrease partly offset by the positive impact of electricity generated in new units of the Opole Power Plant.
  • Stronger performance of Renewables segment ( EBITDA of PLN 193 million, up 17% year-on-year) owing to increased production from wind farms (at 0.5 TWh, up 19% year-on-year).
  • Improved performance of the Supply segment (EBITDA of PLN 218 million, up 52% year-on-year), mainly on the back of higher margins earned in business tariffs.
  • Limited impact of the pandemic on results in the first quarter; the effects should become noticeable in subsequent reporting periods.
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The Management Board of PGE Polska Grupa Energetyczna has decided to terminate projects and programmes planned for the years 2020-2030 that do not bring expected benefits for the PGE Group. The total value of these undertakings exceeds the amount of PLN 1 billion.

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The Management Board of PGE Polska Grupa Energetyczna decided to close projects with unsatisfactory rate of return, in particular those not directly related to the core business of the Group, and obliged all PGE Group companies to optimization and rationalization activities.

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PGE Group's EBITDA with strong support from free EUA allowances. Net profit under pressure from impairment losses in Conventional Generation segment.

  • PGE's EBITDA in 2019 reached PLN 7.1 billion, up 12% year-on-year.
  • Adjusted net profit reached 2.1 billion, up 17% year-on-year.
  • In 2019, PGE produced 58.3 TWh of electricity and sold 50.3 PJ of heat.
  • Year-on-year electricity production from low-emission gas fuel increased by 9% to 4.5 TWh, while wind farms generated 20% more electricity, reaching 1.27 TWh.
  • Expenditures on investments increased by 2% year-on-year in the reported period to PLN 7 billion.
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Wojciech Dąbrowski, President of the Management Board of PGE Polska Grupa Energetyczna, was appointed to the position of the President of the Management Board of the Polish Electricity Association (PKEE).

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The Supervisory Board of PGE Polska Grupa Energetyczna S.A. appointed the Management Board for the 11th term of office. The Board entrusted Mr. Wojciech Dąbrowski with the position of President, Mr. Paweł Strączyński became Vice-President in the area of finances, Mr. Paweł Cioch was announced Vice-President responsible for corporate affairs, and Mr. Paweł Śliwa took the position of Vice-President for innovation. The board’s joint term will last for 3 years.

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Representatives of Volkswagen Group Polska, the Dealers' Association - an entity representing authorized dealers and service partners of the Volkswagen Group - and PGE Nowa Energia have concluded an agreement concerning the construction of generally available electric car charging stations at car dealerships belonging to Volkswagen Group Polska. Under the agreement, up to 300 new recharging points will be opened at the showrooms over the next 2 years.

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