Polish Geological Institute – National Research Institute (PIG-PIB) will support PGE Baltica in preparation for geological surveys. This is yet another step in the implementation of the offshore wind farm construction program of the PGE Capital Group. Both institutions signed a letter of intent in this matter.
PGE Baltica has completed its two-year wind measurement campaign in the Baltic Sea using a floating LiDAR device. The research allowed the collection of high quality data confirming the appropriate wind conditions for the investment. This is another step towards launching offshore wind farms under the Offshore Program at the PGE Capital Group. Wind measurements at farm locations are necessary to estimate their productivity.
The PGE Capital Group has published preliminary data for 2019. Lower operating results in the coal-fired power generation segment and simultaneous increases in the RES segment's results confirm that the Group's transition towards low-carbon power generation was the right decision.
- In 2019 the PGE Group's reported EBITDA rose by 12% to PLN 7.1bn.
- Consolidated net result attributable to equity holders of the parent company amounted to PLN 1.9bn, which constituted a 24% increase over that of 2018.
- In 2019 capital expenditures grew by 2% on a year-to-year basis and exceeded the level of PLN 7bn.
- The annual generation of power from low carbon gas fuels rose by 9% to 4.5 TWh. In the same period wind farms increased their output by 20%, achieving, according to preliminary data, the result of 1.27 TWh.
- There occurred a decrease in power generation based on lignite and hard coaland the year to year increase in CO2 emission costs was approximately PLN 1.64bn.
PGE signs a contract for the construction of two CCGT units with a capacity of approximately 1400 MW in the Dolna Odra Power Plant
On 30 January 2020, the Dolna Odra Power Plant, operated by PGE Górnictwo i Energetyka Konwencjonalna belonging to the PGE Capital Group, was the venue of signing a contract for the construction of two new gas-fired power units with a combined capacity of about 1400 MW.
The PGE Group has taken another step on the way to implementing its ambitious programme of building wind farms in the Baltic Sea, which is an element of the company's transformation towards the low-carbon economy. On 24 January 2020 the Regional Director for Environmental Protection (RDOŚ) in Gdańsk issued an environmental consent for two offshore wind farm projects belonging to PGE, namely Baltica 2 and Baltica 3, with a total capacity of up to 2.5 GW. The decision gives PGE green light to start work on the basic design for both farms.
- The environmental consent of the RDOŚ concerns two projects under the PGE Group's Offshore Programme: The Baltica-2 Wind Power Plant (Baltica 2), which in January 2019 received from PSE a proposal of technical conditions for connection to the NPS for 1498 MW and the Baltica-3 Wind Power Plant (Baltica 3) with a connection agreement with PSE for 1045 MW.
- The first electricity produced by the farms in the Baltic can flow already in 2026.
- On December 20, PGE and Ørsted signed a preliminary agreement describing the framework for cooperation in the transaction of acquisition of 50% of shares by the Danish company in the projects of construction of offshore wind farms Baltica 3 and Baltica 2 in the Baltic Sea.
- Wind farms are a key element in the process of transition that is taking place in the PGE Group. This is also an important element of the Poland's energy transition process.
- The implementation of the PGE Capital Group's Offshore Programme involving the construction of offshore wind farms with a capacity of up to 2.5 GW will allow to avoid emissions of around 7 million tonnes of CO2 per year, and the green electricity thus produced will be able to supply as many as 4 million households.
PGE Capital Group to carry out wind farm projects with support from the European Investment Bank
- New onshore wind farms with a combined capacity of up to 97 MW will be located in northern Poland
- Tangible commitment by PGE to invest in renewable sources of energy will help to decarbonise the energy sector in Poland
PGE Polska Grupa Energetyczna has entered into a credit agreement with the European Investment Bank (EIB) for up to PLN 272.5m (approx. EUR 64m), with the purpose of financing the construction of new onshore wind farms on the Baltic coast in Poland. The three wind farms called Starza, Rybice and Karnice II (combined into the Klaster project ) will have a combined installed capacity of up to 97 MW.
Photovoltaic projects of PGE Energia Odnawialna won the RES auction organized by the Energy Regulatory Office
PGE Energia Odnawialna, a company of the PGE Capital Group, will build four one-megawatt photovoltaic farms in 2020: in the Lubelskie, Podkarpackie, and Lubuskie provinces.
4Mobility, in cooperation with the PGE Group, is launching a minute-by-minute electric car rental service
4Mobility, in close cooperation with PGE Nowa Energia and the City of Rzeszów, with the participation of the car manufacturer Nissan, is launching a minute-by-minute electric car rental service in Rzeszów. Starting on 18 December, residents and tourists can enjoy the region's first electric carsharing system. They can rent Nissan Leaf electric cars.
PGE Baltica has launched an innovative research project on the productivity of offshore wind farms
The aim of this research is to estimate the impact of the slowdown of wind flow caused in their surroundings by large offshore wind farms [the so-called blockage effect]. This phenomenon will be simulated with numerical fluid mechanics methods. On this basis it is possible to accurately estimate the future profitability of investments in the Baltica 3 and Baltica 2 farms. The research will take about a year and the first results of the analyses are expected in early 2021.
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).