ORLEN Group to boost its renewable generation capacity by nearly one-third

Source: www.gulfoilandgas.com 8/2/2024, Location: Europe

ORLEN Wind 3, a subsidiary of the ORLEN Group, has entered into a preliminary agreement with EDP Renewables Polska to acquire two solar PV farms with a combined capacity of 280 MWp located in the Provinces of Zielona Góra and Poznan, along with a 26 MW wind farm in the Province of Lódz. Valued at approximately PLN 1.15 billion, the transaction stands out as one the largest deals in terms of installed capacity made in recent years within the Polish renewable energy sector. Upon completion, this acquisition will elevate the ORLEN Group’s renewable generation capacity by nearly 30%. Acquired farms are among the most advanced in the country, collectively generating around 400 GWh of electricity annually, sufficient to power nearly 182 thousand households.

“We promised to accelerate our efforts, and we’re delivering on that promise. This new agreement will add over 300 MW to our renewable energy portfolio, which is nearly a third of what we’ve built in renewables over the recent years. But it’s not just about the scale – this deal also makes strong economic sense for us and offers a real chance of enhancing the ORLEN Group’s value. Our goal is to be a key player in Central and Eastern Europe’s energy transition. That’s why we’re not stopping here, actively looking for further attractive projects on the renewable energy market to seize every business opportunity that comes our way,” comments Ireneusz Fafara, CEO and President of the Management Board of ORLEN.

The agreement provides for the purchase of two solar PV farms. The first one, situated in the village of Chotków, County of Zagan, Province of Zielona-Góra, was commissioned in January 2024. It spans 45 hectares featuring over 61 thousand solar panels with a total capacity of 40 MWp. The farm is designed for minimised environmental impact, allowing free movement of small animals through appropriately raised fencing, without disturbing their natural migration paths.

The second farm is located on the site of a former lignite strip-mine in the municipality of Przykona, Province of Poznan. In its vicinity, the ORLEN Group already operates several solar and wind power assets with a total capacity of 57 MW, with further units totalling approximately 68 MW still under development. Currently, the acquired PV farm has a capacity of 200 MWp, with an expansion project underway to add another 40 MWp, scheduled for completion by the end of this year. Once the additional capacity comes on-stream, it will be the largest solar PV farm in Poland, with the ORLEN Group as its sole owner.

Under the agreement, the ORLEN Group also acquires Warta, an onshore wind farm built in May 2023 west of Sieradz, in the Province of Lódz. It consists of 13 turbines capable of generating 26 MW. The site benefits from high wind intensity, ensuring optimal utilisation of the installed capacity.

“This transaction is the second we’ve done with Orlen and it highlights the quality of our assets and the sustainability of the asset rotation strategy for EDP. It also showcases our ability to develop high quality renewable assets and to bring more clean energy capacity to the markets we operate in.We remain committed to keep doing so in Poland. As one of the biggest foreign investors in the country, with more than 1GW already developed and installed, including the country’s first wind-solar hybrid park, and more capacity coming online in the next few months, we continue to see Poland as a key market for EDP”, highlights Duarte Bello, Head of Europe at EDP.

By the close of 2030, the ORLEN Group targets an impressive 9 GW of installed renewable generation capacity. In addition to onshore wind and solar photovoltaic sources, it is actively spearheading developments in the offshore wind sector. In preparation for the offshore installation works scheduled for the end of this year, some critical components of the Baltic Power project are currently under production. Key infrastructure, including substations that will evacuate power from the offshore turbines and transmit it to the mainland, is being constructed in the seaside region of Pomerania. Other important project components are also being manufactured in Szczecin, Kluczbork, and Zary, among other locations. In 2026, the ORLEN Group’s JV project with Northland Power of Canada will contribute nearly 1.2 GW to the Polish power grid. This zero-carbon energy source will have the capacity to power more than 1.5 million households.


Australia >>  9/10/2024 - OX2 has sold two solar projects in Australia with combined capacity of 137 MWp / 105MW ac. The transaction will be recorded in the third quarter 2024....
Brazil >>  9/10/2024 - From August 27th to 29th, Antaisolar showcased its innovations at the Intersolar S.A. Exhibition in Săo Paulo. During the exhibition, Antaisolar unvei...

Germany >>  9/10/2024 -  Hamburg-based wind and solar park operator Encavis AG, listed on the MDAX of Deutsche Börse AG (Prime Standard; ISIN: DE0006095003; ticker symbol: EC...
Greece >>  9/10/2024 - Sungrow, a global leading PV inverter and energy storage system provider, announced that its products and solutions were chosen to equip a PV project ...

Italy >>  9/10/2024 - ContourGlobal has entrusted AFRY with providing owner’s engineering services for the revamping and repowering of 35 photovoltaic (PV) plants located t...
Italy >>  9/10/2024 - Trina Solar (Luxembourg) Holdings S.A.R.L., a subsidiary of Trina Solar Co., Ltd., has secured a €150 million revolving credit facility from Banco San...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.