No. 5/2022 | 31-01-2022 | 15:55
The Polish Office of Competition and Consumer Protection consent to establish SPV with PGNiG in biomethane area
PKN ORLEN S.A. (“PKN ORLEN”) informs that on 31 January 2022 ORLEN Południe S.A. and PGNiG S.A. received the consent from the Chairman of the Polish Office of Competition and Consumer Protection to establish special purpose vehicle (“SPV”). Consequently the condition of establish a joint venture has been fulfilled. ORLEN Południe S.A. will have 51% of shares and PGNiG S.A. 49% in creating entity.
The core business of SPV is development of the market and production of biomethane, particularly acquisition and construction of biomethane plants, development of biomethane production technologies, as well as production, trading and use of biomethane in different fields of ORLEN Group and PGNiG S.A. business activity.
PKN ORLEN holds 100% of ORLEN Południe S.A. shares.
See also regulatory announcements: no 50/2020 as of 3 September 2020 and no 19/2021 as of 5 May 2021.