Adoption of the Long-Term Strategic Investments Plan of the Energa Group for 2021-2030
- Current reports
Date: 27 April 2021
Subject: Adoption of the Long-Term Strategic Investments Plan of the Energa Group for 2021-2030
Legal basis: Article 17(1) MAR - inside information
The Management Board of Energa SA ("Company") hereby announces that on 27 April 2021 the Company's Supervisory Board adopted a resolution to approve the "Long-Term Strategic Investments Plan of the Energa Group for 2021-2030".
A new version of the Long-Term Strategic Investments Plan ("Investment Plan") was prepared in connection with the "ORLEN Capital Group strategy by 2030" announced by PKN ORLEN S.A., the Company's strategic shareholder. Furthermore, the Investment Plan needed an update in order to be adapted to the ongoing and expected changes in the market and regulatory environment and in order to account for the current time schedule of investment projects.
According to the Investment Plan, total outlays on core- and additional investment projects of the Energa Group ("Group") planned for 2021-2030 amount to approx. PLN 29.7 billion, including approx. PLN 13.4 billion between 2021 and 2025.
Approximately PLN 16.9 billion worth of outlays will be made in the Distribution Business Line between 2021 and 2030. The investment projects will be related mainly to the construction, reconstruction and expansion of the distribution grid to improve the reliability of electricity supply, to connect sources of electricity supply and growing flows in the grid as well as the construction or expansion of the grid in order to connect customers.
The Group intends to spend approx. PLN 11.8 billion on the Generation Business Line in the years 2021-2030, most of which will be allocated to investments related to renewable energy sources ("RES").
The Sales Business Line and other companies were allocated approx. PLN 1.1 billion and this amount will cover mainly the development of IT tools, the development of a new product offer and investment projects in the lighting area.
All investment activities taken by the Energa Group must fulfil the criterion of minimum investment attractiveness, that is why profitable investment projects and financial stability of the Group are given priority.