RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2020-12-02 14:20:00

POLAND'S RENEWABLE INVESTMENT $37 BLN

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:

RENEWABLE HEATING COOLING
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.
POLAND'S RENEWABLE INVESTMENT $37 BLN
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,
POLAND'S RENEWABLE INVESTMENT $37 BLN
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.
RENEWABLE ENERGY NEEDS INVESTMENTS
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.
POLAND'S RENEWABLE INVESTMENT $37 BLN
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.
POLAND'S RENEWABLE INVESTMENT $37 BLN
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.
POLAND'S RENEWABLE INVESTMENT $37 BLN
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.
All Publications »
Tags: POLAND, RENEWABLE, INVESTMENT, ORLEN
Chronicle:
POLAND'S RENEWABLE INVESTMENT $37 BLN
2022, June, 28, 11:44:00
6TH ANNUAL LNG SUMMIT USA
The 6th Edition of Wisdom’s Much Acclaimed Annual LNG Summit Will Be Held Live in Houston - PREPARING THE INDUSTRY FOR THE RISE IN DEMAND FOR LNG
POLAND'S RENEWABLE INVESTMENT $37 BLN
2022, June, 28, 11:43:00
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
POLAND'S RENEWABLE INVESTMENT $37 BLN
2022, June, 28, 11:40:00
S.KOREAN NUCLEAR SUPPORT
South Korea’s new president, Yoon Suk-yeol, said on 22 June that in order to rebuild the nuclear industry that was “devastated by the previous administration”, the government will allocate KRW92.5 billion ($70 million) from the energy budget for the restoration of nuclear power generation capacity.
POLAND'S RENEWABLE INVESTMENT $37 BLN
2022, June, 28, 11:35:00
U.S. SMR FOR ROMANIA
Romanian company Nuclearelectrica and NuScale will cooperate with the US Trade and Development Agency (USTDA) on a series of engineering and design activities and studies, as well further technical analyses of the Doicești site, a former thermal power plant site which has been identified as a potential location for the SMR plant.
POLAND'S RENEWABLE INVESTMENT $37 BLN
2022, June, 28, 11:30:00
U.S. SOLAR POWER 25%
US Energy Information Administration reports a capacity factor of 25% for solar generation.
POLAND'S RENEWABLE INVESTMENT $37 BLN
2022, June, 28, 11:25:00
AUSTRALIAN SMART ENERGY
As energy is of national importance, a national policy, national rules and regulations are necessary. At the same time, we are facing massive changes in the energy sector.
POLAND'S RENEWABLE INVESTMENT $37 BLN
2022, June, 27, 11:45:49
OIL PRICE: BRENT NEAR $113, WTI ABOVE $107
Brent edged down 8 cents to $113.04 a barrel , WTI was at $107.38 a barrel, down 24 cents.
All Publications »