Polish energy company unveils new strategy based on wind and solar

The company said it wanted to play a leading role in what it described as “the huge transformation of the Polish energy market” and “support efforts related to the Polish energy transformation and development of a low-emission economy.”

The company said its main goals in the period 2020-2024 will be generation of shareholder value and organic growth by developing offshore and onshore windfarms and photovoltaic solar projects.

Polenergia chief executive Michał Michalski said, “We are now stronger than ever before, and we are ready to shape the future of the energy market in Poland. After the full implementation of the strategy, we will strengthen our position among the leaders in the renewable energy market.” Mr Michalski also expressed an interest in the development of hydrogen.

“The Polish energy transformation cannot take place without a commitment to the completion of windfarms in the Baltic,” he said.

Polenergia and partner Equinor plan to construct 1.4 GW of offshore wind in the Baltic by 2023. The Polish company is also planning to complete onshore wind and photovoltaic projects with a total capacity of 315 MW by 2024, of which 186 MW would be onshore wind.

Mr Michalski said implementation of the group’s strategy requires funding of at least PLN 0.5BN. This does not include outlays on the construction of the Baltic II and Baltic III offshore windfarm, which are estimated at PLN 2.6Bn.