PKN ORLEN is the first oil company in Central Europe to declare aspiration
to achieve emission neutrality by 2050. In order to reach this goal, by 2030
the company will reduce CO2 emissions from its current refining and
petrochemical assets by 20% and emissions from power generation by 33% CO2/MWh. The emission neutrality
strategy announced by PKN ORLEN is based on four pillars: energy efficiency in
production, zero- and low-emission power generation, alternative fuels and
green financing.
PKN ORLEN aims to become the leader of the energy transition in Central
Europe. By 2030, it will invest more than PLN 25 billion in projects that will
facilitate mitigation of its environmental impacts and opening up to new
business models. The emission neutrality strategy is based on the business
pillars in which PKN ORLEN already has extensive experience and a strong market
position.
“The carbon-neutral strategy we have presented is a landmark defining
our approach to doing business in the coming decades. The global energy
transformation that is taking place before our eyes is a huge development
opportunity for Central Europe. As the largest company in the region, we want
to increase our involvement in this process and we are well positioned to do
it. In recent years, we have strongly developed in new business areas, and we
are a leader of consolidation in the Polish energy and fuel sector. Once
completed, our planned acquisitions will allow us to take full advantage of the
new opportunities offered by global energy trends and consistently build
company value in the long term,” said Daniel
Obajtek, CEO of PKN ORLEN.
The contemplated projects include both activities geared towards emission
efficiency improvements in the current business areas and development of new business
segments. Within ten years, the company will implement more than 60 projects to
increase the energy efficiency of its existing refining and petrochemical assets.
The new downstream projects will use the best and most emission-efficient
technologies. PKN ORLEN also intends to strengthen its position as a regional
leader in biofuels by implementing five significant investment projects related
to biofuels, including: HVO, co-HVO, UCOME, lignocellulosic bioethanol and
bio-methane. The projects are expected to increase the company’s annual biofuel
output by some 500 ths. tonnes by 2030.
The focus of the company’s efforts designed to build new business areas will
be on the development of low- and zero-emission energy generation sources,
including both offshore and onshore wind power as well as solar photovoltaics.
The ORLEN Group will also develop hydrogen technologies and expand its
distribution network for alternative fuels. The funding for the projects to be
implemented under the carbon neutrality strategy will be partly obtained
through the issuance of Green and Sustainable Bonds by ORLEN Group on the
European capital market.
Thanks to the investments made so far in the energy efficiency of the
refineries in Płock (Poland), Litvinov (the Czech Republic), and Mažeikiai
(Lithuania), over 80% of PKN ORLEN’s CO2 emissions in this segment
are now covered by free allowances. The Group owns 1 GW of modern gas-fired power
generation capacities and over 50 renewable energy sources with a total
installed capacity of 450 MW. PKN ORLEN is already a significant producer of
biofuels in the region, working on the development of technologies for
obtaining biofuels from cellulose raw materials,
vegetable and used cooking oils, as well as for biogas production. It is
also in the preparatory phase for the construction of a 600 kg/h hydrogen hub
in Włocławek, which is expected to give the company the leading position on the
Polish market of hydrogen fuels used in transport.
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