The Polish oil company PKN Orlen (27.5% owned by the Polish Treasury) plans to invest PLN140bn (€31.4bn) over 2020-2030 to venture into renewable energy, gas-fired power generation, efficient low-emission refining and advanced petrochemicals. The company will invest PLN85bn (€19.1bn) in new prospective growth areas, i.e. renewables and advanced petrochemicals : PKN Orlen aims to add 2.5 GW of renewable capacity, including 1.7 GW of offshore wind in the Baltic Sea, and 800 MW of onshore wind and solar PV parks. In addition, the company will introduce pilot energy storage facilities and hydrogen systems and will expand its gas-fired power plants (including in Ostrołęka and possibly in Gdańsk), adding 900 MW of CCGT projects. PKN Orlen will also invest PLN55bn (12.3bn) to enhance the efficiency of its assets. It plans to strengthen its retail network and expand the non-fuel segment, by adding 3,500 petrol stations and deploying 1,000 electric vehicles fast chargers in Central Europe.
In the longer term, PKN Orlen aims at achieving a net-zero carbon footprint by 2050. By 2030, the group aims to cut CO2 emissions from its existing refining and petrochemical assets by 20% and CO2 emissions from its power generation business by 33%.
In April 2020, PKN Orlen acquired the Polish power company Energa, taking over 80.5% of Energa (51.5% owned by the State of Poland), which is active in power generation (around 1.3 GW of installed capacity), distribution and sales activities. With the planned acquisitions of the oil and gas company PGNiG (71.9% state-owned) and of the the Polish refiner Grupa Lotos, PKN Orlen would create a regional energy player.
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