The strategy provides for maintenance and development expenditures in the amount of PLN 175 billion, PLN 39 billion for acquisitions and PLN 21 billion for the implementation of additional investment options.
“From the above expenses, 39 percent will be allocated to projects implemented in the tariff model, 22 percent for sea wind farms with differential contracts, and 39 percent for investments justified by other support systems with the possibility of obtaining additional profitability from energy markets and balancing power ” – it was written.
As part of the investment program, PLN 75 billion in expenditure will be incurred for distribution development, PLN 85 billion for sea and land renewable energy, PLN 37 billion for a new segment of flexible gas power, and PLN 14 billion for energy storage and PLN 18 billion for the heating segment.
Return of regular profits and dividends
“The PGE Group predicts a change in the operating profit structure in such a way that, next to the regulated segments and renewable energy segments New segments of gas power and energy warehouses will have more and more participation, Which will translate into an increase in EBITDA result from PLN 11 billion in 2024 to PLN 17 billion in 2030 and PLN 30 billion in 2035, “it was written in a statement.
According to the plans, the forecast level of the financial index of net debt to the EBITDA result is to keep the cowland in current financing contracts.
“It is also planned in the strategy Return to regular dividend payment After achieving repetitive net profit, the prospects of positive free cash flows for min. 2 years, maintaining investment rating and lack of one -off events significantly burdensome on cash flow ” – it was written in a communiqué.
“In the opinion of the PGE Management Board, the implementation of the strategy and consistent application of the disciplined investment policy providing Minimum return on investment at 7.5 percent (In addition to projects with a secured revenue page in the form of CFD differential contracts – Contract for Difference or PPA – Power Purchase Agreements), for which this requirement may be reduced, will translate into a significant increase in the value of the group ” – the communiqué was written.
75 billion for connections to new renewable energy sources
PGE plans investment outlays at the level of PLN 75 billion, which will enable the increase in connection power for new renewable energy sources by 11 GW (+125 %) IO 12 GW (+14 percent) for new recipients while reducing the Saidi rate by 30 percent. compared to the average of 2019-2024.
The financial effect will be a more than double increase in the regulatory value of assets to PLN 57 billion and an increase in EBITDA result to PLN 10 billion.
The implementation of the investment program in the renewable energy segment worth PLN 85 billion is to translate into Increased power of installed power in land and sea wind energy, solar and hydroelectric power plants to over 9 GW (including projects in the Joint Venture model with partners), which will increase the annual volume of energy sales from renewable energy sources to the level of 28 TWh and EBITDA result to over PLN 10 billion.
Gas energy
The strategy assumes the construction program of up to 10 GW of flexible low -emission gas power plants (ready to switch to zero -emission fuels), including 4 GW in CCGT technology and 6 GW in OCGT technology.
This will require investment outlays in the amount of PLN 37 billion. The investment program is divided into two stages:
- a) implementation of projects with a capacity of 5.1 GW planned to be commissioned by 2030 based on current power market mechanisms,
- b) Another 4.9 GW implemented in 2030-2035 depending on the directions of the evolution of support mechanisms in Poland.
The expected result of the EBITDA of the gas segment is PLN 7 billion.
60 percent energy storage market
PGE strategic goal is an achievement 18 GWH Energy storage capacitywhich will translate into OK. 60 percent market share.
Investment outlays provided in the amount of PLN 14 billion (including 50 percent of financing the project of the peak-pumped hammers) are aimed at obtaining the target storage capacity 10 GWH in peak-pumped power plants and 8 GWH in chemical warehouses, which is to translate into an increase in EBITDA to PLN 2.1 billion.
The assumed investments in the amount of PLN 18 billion (including PLN 3 billion for network acquisitions and their subsequent modernization) are expected to result in reduction of CO2 emissions by 60 percent compared to 2021 and the development of effective heating systems (also in cooperation with local governments) and the integration of heating with power energy for the greater flexibility of the system, which will allow you to obtain an annual EBITDA in the amount of PLN 2.8 billion.
PLN 5 billion for the maintenance of coal assets
The PGE Group assumes the implementation of responsible transformation by respecting the principles of dialogue with employees and local communities, as well as effective property management while maintaining the country's energy security.
As part of the transformation coal assets, on which expenditure of PLN 5 billion is scheduled, The company declares full cooperation with the transmission system operator, the use of individual locations for the implementation of development projects and involvement in other business segments and revitalization of areas after power plants.
Nuclear power plant
In the area of nuclear energy, expenses of several hundred million zlotys are provided only for conducting necessary research and analyzes in 3 potential locations – Bełchatów, Turów and possibly in Konin.
The PGE group declares their willingness to cooperate in business partners. This cooperation is to allow enabling the active participation of partners in the energy market and the balance sheet market, and its scope also includes prosumer solutions (manufacturing sources, warehouses, DSR – Demand Side Response), energy services and advisory support.
