Polsat Plus Group pivots, embraces green energy big time

Polsat Plus Group will buy green energy projects from ZE PAK, and Port Praski, its main shareholder, from other companies, reports “Puls Biznesu”.

According to the newspaper, “on Monday Polsat Plus Group, controlled by Zygmunt Solorz, published a long-term strategy, in which it revealed which activities will complement its existing business lines, ie media and telecommunications.”

“In line with market expectations, the energy sector is to become the new pillar of the group’s business, mainly due to assets acquired from ZE PAK, also a billionaire-controlled company. Polsat will also become a developer, as it will allocate approximately PLN 700 million for the purchase of shares in the Port Praski project. the current main shareholder, through the chain of companies, was … Zygmunt Solorz “- we read.

The daily notes that “a key element of the new strategy is the announcement of investments in zero- and low-carbon energy sources such as solar farms, wind farms, biomass and thermal waste treatment.”

“The group plans to install 1,000 MW of production capacity in the years 2022-26, for which PLN 5 billion is to be spent. In addition, there are investments in the production of hydrogen for the needs of, among others, transport, reaching PLN 500 million” – he informs.

According to “PB”, “these plans are largely consistent with what ZE PAK announced in terms of green energy”. “Indeed, shortly after the publication, both companies from Zygmunt Solorz’s portfolio announced that they had reached an agreement on the transaction. Polsat Plus will take over a controlling stake in PAK-Polska Czysta Energia, to which the project related to the production of energy from biomass will be contributed. Its total value is about PLN 800 million “- added in the article.

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