PKN ORLEN receives approval from the Office of Competition and Consumer Protection to acquire onshore wind farms
The Company was granted consent to acquire three onshore wind farms in the Pomerania region, with a total capacity of approximately 90 MW. This means that the only condition precedent to the transaction with the Spanish investment funds was fulfilled. After the transaction is closed, which is planned to take place in April, the ORLEN Group will have 353 MW of installed wind power capacity in Poland, becoming the fourth largest player on that market.
“UOKiK's consent to the acquisition of onshore wind farms by PKN ORLEN is an important step in building a modern multi-utility company with a strong energy segment based on clean generation sources. In our ORLEN2030 strategy, we announced an intention to reach 2.5 GW in renewable energy sources within a decade, and we are consistently implementing this plan. This is not only a response to regulatory issues, but also to our customers’ and shareholders' expectations,” said Daniel Obajtek, President of the PKN ORLEN Management Board.
In the transaction, PKN ORLEN is to acquire three wind farms, located in Kobylnica (41.4 MW), Subkowy (8 MW) and Nowotna (40 MW) in the province of Gdańsk. All of the farms are covered by the green certificate support system and are located in the region served by Energa Operator. Their total electricity output is approximately 280 GWh per year. Based on contracts currently in force, the wind farms are guaranteed offtake of the electricity they produce for the period of one to ten years.
Following the acquisition, the ORLEN Group will own power generation assets with a total capacity of 3.3 GW, including 642 MW in zero-carbon sources. These include58 renewable energy power plants, mainly across the hydro, solar PV and onshore wind farm segments. The wind power segment will consist of 10 farms with a total installed capacity of 353 MW. Moreover, the ORLEN Group has two cutting-edge CCGT units, located in Płock and Włocławek. The Group also has an extensive network of transmission lines with a total length of approximately 200,000 kilometres, which ensures continuous electricity supply to approximately 3 million customers.
Over the coming decade, the ORLEN Group will spend a total of PLN 47bn on low- and zero-carbon energy generation sources. The Group will invest primarily in offshore and onshore wind energy and photovoltaics. By 2030, the ORLEN Group expects to hold a portfolio of renewable energy sources with a combined capacity of 2.5 GW (attributable to the Group’s interests).