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PKN Orlen SAEnerga power in talks with CCGT blocks contractors about investment schedules
Poland's largest energy concern Orlen's subsidiary, power utility Energa, is in talks with the contractors for the combined cycle gas turbine blocks in Grudziadz and Ostroleka, who have raised the possibility of altering the schedules of these investments, Energa's CEO Slawomir Staszak told a conference.
"Regarding our flagship generation investment projects, namely the CCGT plants, in both cases the general contractors reported the possibility of schedule changes," CEO Staszak said.
"As a board, we have engaged in discussions with the contractors. We are doing everything possible to optimise the potential changes we are getting signals about. If any of these changes to individual elements of the schedules were to affect the target delivery date, we will communicate this to the market when we are sure of such an eventuality, which we are trying to mitigate," he added.
A 745 MW gas-steam unit is being built in Ostroleka. It has contracted around 696 MW of capacity obligation for a period of 17 years as a result of the main power market auction for 2026.
The CCGT unit in Grudziadz is to have a capacity of approximately 560 MW. In December 2021, a power contract for approximately 518.4 MW for a period of 17 years was concluded as a result of the 2026 capacity market main auction.
The group's potential investment project is the CCGT Gdansk project. Energa reported that in the third quarter of 2024, activities related to maintaining the feasibility of the project continued, including, in particular, carrying out work related to the development of project products obtained during the preparation period, as well as obtaining readiness to join the mechanisms of the power market.
As the company's representatives told the conference, Energa is implementing cogeneration investments in Kalisz, Elblag and is preparing to implement an investment in Ostroleka.
During the first nine months of 2024, capital expenditures in the Energa Group amounted to PLN 3.06 billion (EUR 708.4 mln), up by 6 percent year on year. 53 percent of total expenditure were investments in the distribution segment. As reported, expenditure related to the construction of the CCGT in Ostroleka amounted to PLN 352 million (EUR 81.5 mln), while PLN 598 million (EUR 138.4 mln) was allocated to the construction of the CCGT in Grudziadz.
According to the group's strategic plans of December 2023, in the years 2024-2030, investment expenditure is to amount to nearly PLN 48 billion (EUR 11.1 bln), of which about PLN 23.4 billion (EUR 5.4 bln) is for distribution, about PLN 22.8 billion (EUR 5.3 bln) for generation (of which about PLN 14.3 billion or EUR 3.3 bln for RES-related investments and about PLN 3.2 billion or EUR 740.8 mln for the construction and maintenance of CCGT units in Grudziadz and Ostroleka), about PLN 1.6 billion (EUR 370.4 mln) for sales and other services.
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