Polish PGE to be climate neutral in 2050, reach 50% renewables by 2030

PGE Polska Grupa Energetyczna SA (WSE:PGE) this week said 100% of the energy it sells will be coming from renewables in 2050, in line with a goal to be climate neutral by that time.

The Polish energy major has also set an interim target of 50% renewable energy in its portfolio by 2030, equal to 90 TWh of generation, and an 85% reduction of carbon dioxide (CO2) emissions.

At present, hard coal and lignite account for over 80% of the PGE Group’s generation.

“Already in 2030, the PGE Group will be a completely different company,” said Wojciech Dabrowski, president of the management board. He explained that the company developed its new strategy taking into account public expectations, regulatory and market changes.

Over the next 10 years, PGE will install 2.5 GW offshore wind, 3 GW of solar and at least a gigawatt of onshore wind capacity. It said it will have to rely on natural gas as a transition fuel, noting that its use will remain possible for around 20 years.

To ensure secure power grid integration of the new renewables capacities, PGE will also add 800 MW of energy storage in Poland by the end of the upcoming decade.

PGE’s customers too will be encouraged to participate in the energy transition. “We will implement offers based on long-term cooperation, providing them with access to green energy, create favourable conditions for power generation in microinstallations and provide reliable distribution services enabling the development of distributed energy and energy storage facilities,” Dabrowski added.

With the implementation of this transformation plan, the PGE Group’s core business will change to renewables generation, low- and zero-carbon district heating, reliable network infrastructure and modern energy services.

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