Adoption of the Strategic Development Plan of the Energa Group for 2021-2030
- Current reports
Current Report No. 21/2021
Date: 31 May 2021
Subject: Adoption of the Strategic Development 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 31 May 2021 the Company's Supervisory Board adopted a resolution to approve the "Strategic Development Plan of the Energa Group for 2021-2030" ("Strategic Development Plan").
The Strategic Development Plan replaces the "Strategy of the ENERGA Group for 2016-2025", setting the framework for the operation and development of the Energa Group until 2030, in line with the "ORLEN Capital Group strategy by 2030" announced by PKN ORLEN S.A., the Company's strategic shareholder.
The Strategic Development Plan describes the contribution of the Energa Group to the implementation of the above-mentioned Strategy of the ORLEN Capital Group. Furthermore, it takes into account the implementation of the most important initiatives related to the integration of both groups and key trends affecting the shape and functioning of the domestic energy market.
The main strategic goals of the Energa Group for 2021-2030:
a) in the area of distribution: building and implementation of a long-term development plan for the HV, MV, LV grids and improving the quality of customer service,
b) in the area of generation: development of new RES capacities - photovoltaic, offshore wind farms, and in the case of easing the regulations, also onshore wind farms. In the area of system power plants, the strategic goal is to participate in the implementation of new capacities in gas installations and the modernization of cogeneration installations,
c) in the area of sales: carrying out an in-depth digitization program and cost reduction.
Within the Strategic Development Plan, the Energa Group plans to achieve:
• approx. 1.1 GWe of installed capacity in onshore renewable energy sources and participation in offshore wind farm projects with a capacity of approx. 1.3 GWe,
• participation in the implementation of investments in gas installations (CCGT) with a capacity of approx. 1.3 GWe,
• reduction of CO2/MWh emissions by 33% in comparison to 2019,
• increasing the share of remote reading meters (AMI) installed at customers to 100% in 2026.
It is planned that the realisation of the above-mentioned Strategic Development Plan's goals will translate into an increase in the consolidated EBITDA result (operating profit before amortization and impairment of non-financial non-current assets) in 2030 by over 60% compared to 2020.
The Strategic Development Plan's forecast document, which reflects the current assumptions regarding investments in the Energa Group, is the "Long-Term Strategic Investments Plan of the Energa Group for 2021-2030" ("Investment Plan"). It was approved by the Supervisory Board of Energa SA on April 27 this year, about which the Company informed in the current report No. 10/2021 of 27 April 2021. According to the Investment Plan, the total investment outlays of the Energa Group in 2021-2030 are to amount to approx. PLN 29.7 billion.