Enea power wants to increase CAPEX in distribution and RES in ‘25; works on acquisitions

"As a group, we intend to significantly increase capital expenditure in distribution next year. (...) On the other hand, our RES plans will also require capital expenditure," said Enea's board member for finance Marek Lelatko.

The group's deputy CEO Bartosz Krysta said that at the end of this year, the level of installed PV capacity will increase to 89 MW. The company also wants to partially realise the Bejsce wind farm project.

"We are pleased to see further topics that are nearing completion and will be commissioned within two months. These are about 30 MW in photovoltaics and 20 MW of wind," Krysta said.

In 2024-2026, the group has projects in the backlog with a total capacity of more than 1 GW. These include PV projects, wind farms and energy storage.

The group is looking for acquisition opportunities in the RES area.

"There have been acquisition projects that we are working on. They concern wind farms of just over 200 MW in nine locations. And one energy storage project. We have more topics of this type in the identification and analysis phase," deputy CEO Krysta said.

The company expects an increase in the installed capacity of renewable energy sources in Poland and in the group itself in 2025, and that these sources will displace production from conventional sources.

"We expect a further increase in the installed capacity of RES in Poland in our operator's area in 2025 and we will want to be part of this growth as a group. The consequence of this will be further displacement of production from conventional sources," Marek Lelatko said.

"Over the past two years, the level of production has fallen from above 60 percent of our power plant utilisation to around 37 percent this year. We expect that further RES sources will cause our conventional sources to become more and more powerful and produce less and less energy," he added.

The company expects energy prices to remain on a slight downward trend next year, causing CDS margins to fall further.

For 2025, the company expects a lower volume of energy production from coal sources.

Enea's deputy CEO Dalida Gepfert said that proceedings for the construction of a gas unit in Kozienice are ongoing.

"The proceedings are ongoing for the construction of the gas units in Kozienice. We did not get a binding offer by the deadline, and we have started negotiations with one supplier. The negotiations are ongoing," she announced.

"We have not changed our determination to enter the power market. We are in discussions with banks regarding financing," the deputy CEO added.

pel/ ao/