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Poland's PGE, KGHM plan solar JV

PGE's first solar plant. Author: PGE Polska Grupa Energetyczna SA. License: All Rights Reserved

September 4 (Renewables Now) - Polish power group PGE Polska Grupa Energetyczna SA (WSE:PGE) will be building solar photovoltaic (PV) parks for copper and silver producer KGHM Polska Miedz SA (WSE:KGH), it was announced today.

The two companies have signed a letter of intent (LoI) regarding this cooperation, which envisages the installation of PV power facilities at sites belonging to KGHM. This will be done through a new joint venture that will be responsible for the development, construction and operation of the plants.

The pair could invest in up to 500 MW of solar capacity as part of the cooperation and KGHM has already identified sites for about 200 MW, Henryk Baranowski, CEO of PGE, said as cited by the Polish Press Agency (PAP).

KGHM aims to source 50% of its power from own generators by 2030, including renewable energy systems. PGE, on the other hand, has a plan to build a roughly 2.5-GW solar portfolio by 2030.

Poland’s draft energy policy for the period until 2040 includes solar targets of 10.2 GW by 2030 and 20.2 GW by 2040.

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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