2020-12-02 14:20:00
POLAND'S RENEWABLE INVESTMENT $37 BLN
RENEWABLES NOW - December 1, 2020 - Polish oil refiner PKN Orlen (WSE:PKN) plans to end the current decade with 2.5 GW of installed renewable energy capacity, backed by 2 GW of gas-fired sources.
The targeted renewables include 1.7 GW of offshore wind farms and about 800 MW of onshore wind and solar photovoltaic (PV) plants. A biofuel and hydrogen fuel output expansion is also in the plans.
The group presented its ORLEN2030 strategy on Monday, including commitments to achieve a net zero carbon footprint by 2050 and pursue carbon dioxide (CO2) reduction targets for 20% less emissions from existing refining and petrochemical assets and 33% from the power generation business in 2030.
PKN Orlen said in a press release that its transformation path until 2030 revolves around renewable energy and advanced petrochemicals. It intends to actively manage its business portfolio on a CAPEX budget totalling PLN 140 billion (USD 37.4bn/EUR 31.2bn) by the end of the decade and this would include PLN 85 billion set aside for these two particular segments. The rest will be invested to bolster the efficiency of the group's existing assets.
The group expects its new strategy to drive a two-and-a-half-fold increase in earnings before interest tax, depreciation and amortisation (EBITDA) to around PLN 26 billion. The power generation, petrochemical and refining segments are seen to each make a PLN-7-billion contribution in 2030.
"We will spend a total of approximately PLN 140 billion on our strategic objectives, which will generate a total of PLN 195 billion EBITDA over the next 10 years. The diversified business will provide us with financial stability and will enable us to consistently build value for our shareholders," said Daniel Obajtek, president of the PKN Orlen management board.
(PLN 1.0 = USD 0.267/EUR 0.223)
-----
Earlier:
2020, December, 1, 13:15:00
RENEWABLE HEATING & COOLING
Heating and cooling based on renewable energy has emerged as an urgent priority for countries striving to meet climate goals and build resilient, sustainable economies.
2020, November, 23, 12:25:00
GLOBAL WIND ENERGY WILL UP
Driven by global climate and carbon reduction goals, the offshore wind industry is expected to reach 234 GW by 2030,
2020, November, 23, 12:05:00
RENEWABLE ENERGY FLEXIBILITY
The way to climate neutrality has to be paved by a multitude of technologies, approaches and market mechanisms. Within this mix, flexibility stands out as one of the essential features of the energy system of the future.
2020, November, 11, 14:45:00
RENEWABLE ENERGY NEEDS INVESTMENTS
Annual investment in renewables would need to almost triple from an average of
just below USD 300 billion in 2013-2018 to almost USD 800 billion through 2050.
2020, November, 11, 14:40:00
RENEWABLE ELECTRICITY WILL UP BY 7%
In sharp contrast to all other fuels, renewables used for generating electricity will grow by almost 7% in 2020.
2020, November, 10, 11:00:00
CLEAN AND RELIABLE ENERGY
It’s possible that the coming transportation revolution will greatly reduce demand on the grid.
2020, November, 5, 12:20:00
CLEAN ENERGY INVESTMENT $2 TLN
Increasing annual investment to $2 trillion per annum between 2021 and 2023 will encourage more private sector investment, providing an effective stimulus for the global economy.
Chronicle:
2022, November, 28, 09:59:00
INTERNATIONAL CONGRESS AND EXIBITION TURKEY & BLACK SEA OIL AND GAS
International Congress and Exhibition Turkey & Black Sea Oil and Gas is an international, professional platform, bringing together over 200 C-suite executives from vertically integrated oil companies, general directors, CTOs of oil refineries, gas processing plants and petrochemical facilities, initiators of investment projects on oil and gas extraction from Turkey and countries of the Black Sea area, officials of regulatory authorities, licensors of production technologies and world suppliers for the industry.
2022, November, 28, 09:58:00
TRANSPORTATION OIL AND GAS CONGRESS 2023 (TOGC 2023)
Transportation Oil and Gas Congress 2023 (TOGC 2023) takes place on February 20-21, 2023. The Congress brings together representatives from the whole pipeline chain and focuses on both strategic and technical issues of the oil and gas pipeline transportation.
2022, November, 28, 09:57:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023
Link to the Congress website: https://bit.ly/3tXVmr7
2022, November, 28, 09:55:00
EGYPT LNG UP BY 14%
Egypt has two LNG export facilities -- the 7.2 million mt/year Shell-operated Idku facility and the smaller Eni-operated 5 million mt/year Damietta plant.
2022, November, 28, 09:50:00
VIETNAM NEED COAL
Under this baseline scenario, coal would remain the largest source of energy in the country until 2030, with 11 new coal-fired power plants to be built, raising the coal-fired power capacity from over 21 GW in 2020 (nearly 24 GW in 2021) to 30 GW in 2025 and over 36 GW in 2030.
2022, November, 28, 09:45:00
UAE CLEAN ENERGY
“The UAE could be a key player and deliver 25 percent of the production of the global low-carbon hydrogen market by 2030,” the report reads.
2022, November, 28, 09:44:00
DISCUSSING LNG MARKET TRENDS AT LNGCON 2023
The closed-door International LNG Congress 2023 assembles top-level management and technical representatives of the LNG industry to discuss prevailing questions and present innovative solutions in Dusseldorf, Germany on March, 6-7, 2023.