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Orlen SAOrlen energy assumes CAPEX of PLN 350-380 bln by 2035 - strategy
Poland's largest energy concern Orlen in its new strategy to 2035 assumes that cumulative capital expenditures including capital investments in 2025-2035 could amount to PLN 350-380 billion (EUR 82-89.1 bln), the company said in a market filing.
"Cumulative capital expenditures, including equity investments, in the years 2025-2035 may range from PLN 350 billion PLN to PLN 380 billion, of which between PLN 270 billion and PLN 290 billion is of a flexible nature allowing company to actively manage investment budget," Orlen said in the summary of the strategy.
Orlen has adopted capital allocation criteria including hurdle rates for investment projects differentiated by business line and their impact on carbon emissions.
Over the 2025-2035 strategy horizon, the concern plans capital expenditures related to:
• activities in regulated businesses (electricity and gas distribution networks) - over PLN 60 billion (EUR 14.06 bln);
• maintenance of operational assets – PLN 77-88 billion (EUR 18.05-20.63 bln);
• development – PLN 132-143 billion (EUR 30.94-33.52 bln);
• potential equity investments (M&A and partnerships) – up to PLN 85 billion (EUR 19.92 bln).
ao/ han/