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PGE plans renewable energy investments to be included in the National Recovery Plan

For the National Recovery Plan, Poland’s largest power producing company PGE has prepared 24 projects worth 74 billion złoty (16 billion euros), 80 per cent of which is to be invested in renewable energy sources.

At the end of February, the government presented a draft of the National Recovery Plan and forwarded it for public consultations. The draft document includes a number of investment initiatives aimed at supporting the recovery of the Polish economy after the pandemic.

“Among the proposed investments there are two large-scale offshore wind farm projects – Baltica 2 and Baltica 3 – with a combined value of 35 billion złoty [7.6 billion euros]. We hope to receive support for these projects, thanks to which it will be possible to reduce the costs of energy transformation in Poland,” said   Wojciech Dąbrowski, President of the Management Board of PGE. “The development of offshore wind farms constitutes an impulse for the development of the Polish economy and an opportunity for domestic enterprises to participate in one of the most important infrastructural projects in the country.”

The remaining 22 projects worth 39 billion złoty (8.5 billion euros) that PGE wants to finance within the framework of the National Recovery Programme are investments related to heat generation (including the replacement of coal with low-emission gaseous fuel), electricity generation (including from renewable energy sources) and modern distribution infrastructure.

The preparation of a National Recovery Plan is the prerequisite for obtaining access to funds within the EU Recovery and Resilience Facility. Such a plan has to outline reforms and investments, as well as actions necessary for their implementation. The document should also indicate objectives and milestones to be achieved within the scope of planned reforms and investments. The National Recovery Plan should be submitted to the European Commission as a single integrated document by 30 April 2021.

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