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Energa to invest over 10 billion euros in green transition in updated strategy

Polish energy company Energa Group, a subsidiary of the ORLEN Group, announced last Thursday (7 December) that it has updated its Multiannual Strategic Investment Plan and the Strategic Development Plan for 2024-2030.

Over the next seven years, the company plans to implement investments totalling nearly 10.5 billion euros (48 billion zlotys), focusing on a substantial increase in installed capacity in renewables and further growth in the sale of green electricity.

The implementation of this updated strategic plan may result in a twofold increase in Energa Group’s EBITDA compared to its 2022 results, Energa said in a press release.

Around 5.7 billion euros (23.4 billion zlotys) is planned to be allocated to distribution to facilitate the modernisation and expansion of the network. The company aims to increase the total installed capacity of renewable sources connected to Energa Operator’s network to at least 13.2 gigawatts (GW) by the end of the current decade.

Nearly 5.4 billion euros (23 billion zlotys) is planned for electricity generation, with almost 3.2 billion euros (14 billion zlotys) for the development of renewables. This aims to increase the installed capacity in the Energa Group’s renewable assets to approximately 3.6 GW by 2030, compared to the current 584 megawatts (MW).

The strategy also includes a shift away from coal in favour of low-emission gas sources, with over 682 million euros (3 billion zlotys) allocated for the construction and maintenance of two gas and steam units in Ostrołęka and Grudziądz, with a total installed capacity of approximately 1.3 GW.

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