As of the Prospectus date, Polenergia is developing three offshore wind projects together with Equinor. The final investment decision for MFW Bałtyk II and MFW Bałtyk III projects is scheduled for 2024, which is going to allow for the delivery of the first electric energy to the network in 2027. The generation capacity of both farms will amount to 1440 MW and this will allow for supplying electric energy to over 2 million households. In 2021, MFW Bałtyk II and MFW Bałtyk III received decisions of the ERO President granting the right to cover the negative balance of energy, which is a system support dedicated to the generation of energy by offshore wind farms. The third project, MFW Bałtyk I, with a planned capacity up to 1560 MW, has a valid location permit and an agreement on connection from the transmission system operator. At the present moment, a comprehensive pre-investment programme of studies of the maritime environment is carried out for the purpose of environmental impact assessment of MFW Bałtyk I, which is a milestone on the path to procuring a decision on environmental constrains that is requisite for project performance.
At the present moment, the issuer has the capacity of 287 MW installed in onshore win farms with annual production of approx. 790 GWh, which constitutes approx. 75% of the share of this segment in the installed capacity of the Group. Simultaneously, Polenergia is one of the largest producers of energy from onshore wind farms in Poland, having almost 5% share in the installed capacity at the market. Positive regulatory changes will significantly affect the operation of Polenergia, as the company intends to actively pursue the development of three wind projects with a planned joint capacity of 300-600 MW. The issuer is planning to build two wind projects, FW Grabowo and FW Piekło, with a total capacity of 57 MW. It also holds a portfolio of photovoltaic farms, where investments with a planned capacity of almost 56 MW were notified for an auction in 2021 and received support as part of the system. Subsequent photovoltaic farm projects with a capacity of 18 MW should be ready for an auction in 2022.
As of the Prospectus date, Polenergia carries out development activities in the area of electromobility, which is a bridge connecting the modern energy sector and the automotive industry. Extension of generally accessible stations of quick and fast charging is planned as a vital element allowing for the free movement of electric cars in the area of Poland and development of product offer targeted at individual and business clients. This is an area where Polenergia is planning to play a key role as an operator and supplier of green energy charging produced from own sources. Being an active market participant, the company builds competence and experiences also as part of its organisation; therefore, it has put in place a fleet policy in line with which new vehicles used in the Group are provided with a fully electric or hybrid ‘plug-in’ drive.
A noticeable element of development of the Polish electric energy sector is growth in the significance of dispersed energy consisting in generation of electric energy, heat or cold by minor units or production facilities for local use, including prosumer energy. Polenergia perceives this trend and understands that along with a change in the mode of generation, the customers’ expectations as to the products and services are also changing. That is why the Group adjusts to the new reality by investments in the area of installation and customer servicing in the area of dispersed energy and is already delivering household photovoltaic installations, energy warehouses, heat pumps and new services related to the management of demand, virtual power plants and aggregation to the end customers.
As of the Prospectus date, Polenergia is actively seeking customers throughout Poland. The target group is the B2B and B2C segment, i.e. households. Polenergia Sprzedaż relies its sales strategy entirely on energy from renewable sources of energy located in the territory of Poland. The offer for households, apart from price guarantees, also features products with flexible price guarantees, discount guarantees or completely flexible, allowing quick and simple changes. The company was the first entity at the Polish market to offer the Energia 2051 standard consisting in delivery of completely green energy at every hour of consumption to end recipients. Such requirement, according to the guidelines of the European Green Deal, will be generally applicable in Poland only in thirty years’ time. This means that the Polenergia clients can now use deliveries of energy with zero carbon footprint and thus join millions of households and companies around the world which care about the environment and nature.
To make the implementation of climate objectives announced by the European Commission, among others in the “Fit for 55” package, aimed at reducing the emission of greenhouse gases by 55% by 2030 as compared to 1990 feasible, activities in particular in the geographic area of the Central Europe are required. Given the in-depth understanding of the local conditions and attractiveness of the region, Polenergia decided to search for specific projects and partners outside of Poland. The Group is carrying out activities to source and develop projects in the area of generation from renewable sources, such as onshore and offshore wind energy and photovoltaics. The goal of Polenergia in a long-term horizon is construction of an integrated energy entity operating in the entire region of Central Europe.