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PGE purchases 3 onshore wind farms further sustaining its leading position in Poland’s renewable market

Poland’s energy group PGE has signed a conditional agreement to purchase three onshore wind farms with a total capacity of 84.2 megawatts (MW). The conclusion of the transaction will result in a 12 per cent increase of PGE Group capacities in onshore technology that will amount to more than 770 MW. The completion of the acquisition will sustain the leading position of PGE Group in the renewable generation market in Poland with a market share of 11 per cent of installed capacities in onshore wind farms in Poland. 

“In 2021, for the first time in the history of PGE Group business activity, the renewable generation segment achieved EBITDA result exceeding 1 billion zlotys [approximately 215 million euros]. This result proves the growing role of renewable energy sources in PGE Group,” said Wojciech Dąbrowski, president of the Management Board of PGE. “The large scale acquisition of three onshore wind farms with a total capacity of 84.2 MW, that has been already signalised, strengthens the green transition in PGE Group. With an installed capacity of over 770 MW in onshore wind farms, we have strengthened our leading position in the renewable generation market in Poland.”

For the PGE Group, the acquisition of three onshore wind farms means the growth of onshore wind farms capacities from 688 MW to 772 MW and an increase in market share from 9.6 per cent to 10.8 per cent (according to the data of the Agency of Energy Market, the installed capacity of onshore wind farms at the end of 2021 amounted to nearly 7,117 MW).

The assets involved in the transaction comprise 32 wind turbines with a total capacity of 84.2 MW and an average annual generation of 240,000 megawatt-hours (MWh), which may ensure the electricity demand of around 120,000 households, by comparison, something like the electricity demand of the city of Lublin.

All farms have long term PPA agreements that partly secure volumes of generated energy even until 2030. The farms will benefit from the support system in form of green certificates until 2030.   

The transaction is an element of the implementation of PGE Group’s strategy until 2030, which assumes that in 2030 PGE Group will operate 1.7 gigawatts (GW) of onshore wind farm capacities to be achieved also through acquisitions.
 

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