PGE to buy heat networks until 2023, then focus on cogeneration capacity

WSE-listed, state-owned power utility PGE wants to buy heat networks until 2023 and modernize it to modern regulations. After that it will shift its focus on increasing its cogeneration capacity, the company said in a market filing. “In the first stage, to 2023, we want to focus on extending the value chain, concentrating mainly on acquiring heat networks and adapting the current assets to environmental requirements, to subsequently move on to developing the power generating assets and heat networks until 2030,” Deputy CEO Ryszard Wasilek said. PGE earmarked PLN 17 billion for that purposes, with PLN 6.9 billion to be spent on heat assets between 2018-2023 and PLN 10.6 billion on cogeneration in the 2024-2030 period. The company plan is to reach 1,000 MW in new cogeneration capacities by 2030.