Profil:
Energa SAEnerga power plans renewable energy acquisitions and aims to add 288 MW capacity in 2025
Poland's largest energy concern Orlen's subsidiary power utility Energa is working on renewable energy acquisitions to increase its installed capacity by 288 MW in 2025, the representatives told a conference. In 2024, the company added 266 MW of new renewable energy capacity but faced asset impairments due to falling energy prices.
"We acquired 266 MW of new renewable capacity in 2024. In 2025, we plan intensive efforts to acquire around 288 MW. Energy prices are highly volatile, so we carefully evaluate all M&A projects to avoid further impairments," said CEO Slawomir Staszak.
Magdalena Kaminska, Energa's deputy CEO, explained that the impairments, totalling PLN 0.63 billion (EUR 147.3 mln), resulted from revised energy price paths.
"We apply the latest macroeconomic and energy market outlooks when assessing investment profitability," she stated.
Kaminska added that the company adopts a cautious approach to new projects, emphasizing strict risk assessments and discount rates. She noted that Energa plans to update its strategic investment spending assumptions.
Staszak mentioned that Energa would audit past acquisitions and investments, saying the company would pursue legal actions if irregularities are found.
"If the results of the audits give reasons for filing some kind of notice to the prosecutor's office, then of course we will do so. If they give reasons for pursuing claims in some other formula, we will do that, too," he said.
He confirmed that schedules for CCGT projects in Ostroleka and Grudziadz remain unchanged.
pel/ nl/ han/