Famur, a large manufacturer of mining machinery and equipment, is changing its strategy. Solar energy will be the new focus, while its coal mining equipment gets left behind.
In connection with Poland’s climate policy and the decarbonisation of the energy sector, Famur intends to implement large photovoltaic projects through Famur Solar – only this year, 150 MW of power in PV installations is to be created. The company will also launch the production of an assortment for the renewable energy sector and will operate in the area of transport, logistics and infrastructure.
The new strategy is a response to the changing environment. The mitigation trend with moving away from coal is global. Therefore, the company, with 64 percent of revenues coming from mining, will revise its plans. As a result of the actions it intends to take, the share of revenues related to the steam coal sector by 2024 should fall below 30%.
- “The last two years have been an intense time. There was a change in the business, economic and political environment that had no counterpart in the past years. We can see how strongly it influences the development of our business. In the country, changes are driven by the transformation of the energy segment, which is a challenge for us, but also an opportunity for development in new prospective areas”, said Mirosław Bendzera, CEO of Famur during the press conference.
The company intends to continue operations related to mining, but only in those areas that are the most profitable and stable, constantly adapting to the changes that will be brought about by the energy transformation of Poland. It will also implement selected mining projects on export markets.
It will slowly re-branch selected production plants so that they can start operating in new segments, including the production of machinery and equipment for renewable energy, transport, as well as logistics and infrastructure. But it also intends to comprehensively implement renewable energy projects, namely to build large solar farms. The company’s entry into new sectors is to be supported by a long-term investor, TDJ.