ORLEN Group contemplating investments in Lithuania’s energy sector

In line with its strategy, the ORLEN Group is investing in Lithuanian assets to reinforce the market position of ORLEN Lietuva, its strategic subsidiary operating the Baltic Sea region’s only refinery, which already runs on crude oil sourced fully outside of Russia. During his meeting with Ingrida Šimonytė, Prime Minister of the Republic of Lithuania, the PKN ORLEN CEO Daniel Obajtek presented the Group’s key strategic objectives the delivery of which would strengthen the economies of both countries and, first and foremost, enhance the energy security of this part of Europe. The talks revolved mainly around further expansion of the refinery in Mažeikiai and the Group’s plans to invest in wind power, hydrogen and small modular reactors.

PKN ORLEN and Synthos Green Energy plan a joint project to import energy from Ukraine

ORLEN Synthos Green Energy, formed by PKN ORLEN and Synthos Green Energy, is planning to start a project that will enable electricity imports from Ukraine and will help stabilise and diversify supply sources, strengthening Poland’s energy security and making a real contribution to improvement of Ukraine’s economic situation.

PKN ORLEN steps up work on nuclear technology

PKN ORLEN and Synthos Green Energy will set up a joint venture to invest in the development of micro and small modular reactor technologies. The Office of Competition and Consumer Protection has given its clearance for the establishment of ORLEN Synthos Green Energy, which will be responsible for developing and commercialising in Poland one of the most efficient, cost effective and safest energy generation technologies. This is an important contribution to ORLEN’s energy diversification efforts that will help enhance energy security for Poland and the region.

PKN ORLEN set to strengthen its international position

PKN ORLEN has maintained a consistent focus on strengthening its position in Central and Eastern Europe, as envisaged by the ORLEN2030 strategy. As part of its geographic expansion on what are seen as the key growth markets for the entire ORLEN Group, it will build a fuel retail chain in Hungary, which will position PKN ORLEN among the region’s leading players. Topics discussed during a recent meeting between the President of the Management Board of PKN ORLEN Daniel Obajtek and the Hungarian Prime Minister Victor Orbán included the strategic aspects of energy security in this part of Europe.

ORLEN Group plans further rapid growth in offshore wind power

The ORLEN Group has submitted applications for seven new licences to develop offshore wind farms in the Baltic Sea. Once the next stage of the administrative procedure is launched, the Group will apply for the other four licences in the region. The total capacity that could be developed in the areas covered by the applications is estimated at around 7 GW. By applying for the largest possible number of licences, the ORLEN Group wants to take advantage of the economies of scale and its track recording of implementing offshore wind energy projects.

Baltic Power has held talks with potential suppliers on building supply chain for offshore wind project

Almost 600 representatives of 369 companies and institutions attended a meeting for those interested in collaboration on the Baltic Power project. Building a strong supply chain is now among the crucial steps leading up to the launch of this project, which is of strategic importance to the entire power sector. In line with the project’s schedule, the work will start in 2024 and be completed in 2026.

ORLEN steps up efforts to deploy small nuclear reactors

PKN ORLEN and Synthos Green Energy have signed an investment agreement to set up a joint venture, ORLEN Synthos Green Energy, whose key aim will be to prepare and commercialise small nuclear reactor technology, particularly GE Hitachi Nuclear Energy’s BWRX-300 reactors, in Poland. The project will offer an opportunity to accelerate decarbonisation of the ORLEN Group’s production assets while also helping to improve energy security and drive economic growth at home due to its reliance on local supply chains.

Baltic Power to hold talks with suppliers about successive project stages

Baltic Power, the vehicle responsible for the construction of PKN ORLEN and Northland Power’s first offshore wind farm, is arranging another conference for potential contractors interested in participating as a supplier for the project. The participants will learn about detailed plans for each of the seven ‘installation packages’ making up the project implementation process.

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.