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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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The ORLEN Group finalises geotechnical surveys of the Baltic Sea bed

​Twelve specialised vessels are beginning the main phase of geotechnical surveys of the Baltic Sea bottom in the area of the planned wind farm and along the connection route. Completion of the tests is scheduled for later this year. The results will provide a basis for the development of a detailed plan of locations of the foundations for the turbines and offshore substations and their connection to the onshore transmission infrastructure.

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