PKN ORLEN to undertake project aimed at producing innovative biofuel component

At its Production Plant in Płock, PKN ORLEN will implement a modern technology for making hydrotreated vegetable oil (HVO). This environmentally friendly and innovative solution, consistent with the ORLEN2030 strategy, will solidify the ORLEN Group’s position on the biofuel market. It will also be ORLEN’s response to the EU’s ‘Fit for 55’ package, which includes a set of new challenges for the oil refining industry to reduce transport fuel emissions. The project, with an estimated value of approximately PLN 600m, is to be carried out in mid-2024.

PKN ORLEN launches the second round of its acceleration programme

The first round of the ORLEN Skylight accelerator programme attracted more than 100 startups from Poland and abroad. Those startups whose technological and business potential will be assessed positively will qualify for the pilot stage.

PKN ORLEN appoints financial advisor for the Baltic Power

​A consortium comprising Pekao Investment Banking and Green Giraffe has been mandated as financial advisor for the offshore wind farm project Baltic Power. The two companies will be responsible for raising funding for the project, which is due to start in 2023, with commercial operation planned in 2026.

Strategic partnership of PKN ORLEN with American manufacturer of wind turbines

PKN ORLEN is actively involved in the implementation of Poland's energy policy. The company started a strategic partnership with the American company GE Renewable Energy, one of the world's leading manufacturers of turbines for offshore wind farms. The signed Memorandum of Understanding is aimed at strengthening PKN ORLEN’s competitiveness in applying for new concessions for wind farms in the Polish economic zone in the Baltic Sea.

ORLEN Group posts best results ever

For the second quarter of 2021, the ORLEN Group posted record-high LIFO-based EBITDA of PLN 3.2bn, up by a remarkable PLN 1.2bn y/y. The Group’s strong market position has also been confirmed by its net profit of PLN 2.2bn and 73% y/y growth in revenue, to PLN 29.4bn. The main contributors to the Group’s impressive performance were power generation and petrochemicals. More than half of the ORLEN Group's sales revenues come from foreign markets.

ORLEN Group takes another step towards zero-carbon energy

​PKN ORLEN and Synthos have signed a cooperation agreement to jointly develop and implement zero-emission nuclear energy technologies based on micro and small modular reactors (MMRs and SMRs). Delivery of the objectives set out in the agreement will further the ORLEN Group’s strategic goal of achieving carbon neutrality by 2050, while improving Poland’s energy security.

ORLEN Group to launch international hydrogen program

​The ORLEN Group is launching HYDROGEN EAGLE, an investment program to develop an international chain of hydrogen hubs powered by renewable energy sources and build innovative facilities to convert municipal waste into zero- and low-emission hydrogen. The project also provides for the construction of more than 100 hydrogen refuelling stations for individual, public and cargo transport.

PKN ORLEN takes next step in its Petrochemical Development Programme

​PKN ORLEN has signed a final contract with the contractor for Europe’s largest petrochemical project in 20 years. Hyundai Engineering and Técnicas Reunidas will be responsible for building the main units of Olefins Complex III. This key project implemented under PKN ORLEN’s Petrochemical Development Programme will add some PLN 1bn to the company’s annual EBITDA.

Energy Regulatory Office awards support for Baltic Power wind farm

​The Energy Regulatory Office has granted support for the Baltic Power project in the form of a 25-year Contract for Difference (CfD). Under the CfD, the project owner will receive payments covering any negative balance of electricity generated offshore and fed into the grid, which means that the project will be compensated for the potential difference between the market price of electricity and the strike price of the CfD.