PGE Energia Odnawialna will build 20 PV farms backed by deal with PGE

PGE Energia Odnawialna – a subsidiary of Polska Grupa Energetyczna (PGE) – is starting the construction of 20 one-megawatt solar farms in the following voivodeships: Zachodniopomorskie, Wielkopolskie, Lubuskie, Opolskie, Łódzkie, Lubelskie and Mazowieckie.

Some of them will be launched in 2021, others in 2022, the company said. The new power plants will be implemented based on a long-term electricity sales agreement (PPA) signed with PGE.

The PPA (power purchase agreement) allowing the purchase of over 25 GWh of electricity directly from the producer was signed for seven years. It will provide PGE Energia Odnawialna with the security of financing planned photovoltaic investments at a level that will allow for a return on the invested capital ”- reads the release.

“The implementation of the investment is an expression of our commitment to the development of the PGE Group towards renewable energy. PGE already produces and sells the most green electricity in Poland. In 2020, it was over 2.3 TWh, and the goal of our activities is to increase the volume and share of green energy sales in the Group’s revenues from year to year, ”said PGE CEO Wojciech Dąbrowski, quoted in the release.

At the same time, PGE Energia Odnawialna declares that it is not giving up the auction system. For the company, it is still an excellent support tool, giving confidence and security.

“The company decided to look for new solutions to finance the operation of the newly launched photovoltaic power plants, because the calendar of subsequent auctions and the contracted volumes did not ensure the achievement of the investment goals of the PGE Group’s Strategy. According to its assumptions, by the end of 2030, PGE will build PV installations with a total capacity of 3 GW and strengthen its position as the leader of the RES market in Poland. So far, nearly 2.5 thousand jobs have been secured for this purpose. ha of land on which photovoltaic power plants with a capacity of approx. 2 GW may be built, ”said Lucyna Kwiatos, vice president of PGE Energia Odnawialna.

An important argument in favor of PGE launching an alternative to the auction system was also the fact that the closing prices of the last auctions were below market prices. At the same time, the cost of energy production in PGE’s photovoltaic power plants was equal to the price of energy in the power grid. And the achievement of the so-called grid parity is considered to be the point at which an energy source has the potential to develop without subsidies or other types of public support, as explained in the material.

“The construction of 20 single-megawatt photovoltaic power plants is just the beginning of our investments this year. In the coming months, we plan to launch procurement procedures for the construction of new power plants, both small and larger, with capacities of up to several dozen megawatts. We are also interested in acquisitions. That is why we invite investors interested in selling their own photovoltaic projects to cooperate with us, ”added Marcin Karlikowski, President of PGE EO.

PGE Energia Odnawialna, a company belonging to the PGE capital group, is currently the largest producer of green energy in Poland. It has 17 wind farms, 29 hydropower plants, 4 pumped storage power plants and 5 photovoltaic farms. The total installed capacity of all renewable energy facilities is 2,326 MW.

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