PGE to generate 25% of Poland's electricity production by 2030
02:00
Poland's largest utility company PGE expects about PLN 34 billion in capital expenditures (CAPEX) for the years 2016-2020, the company informed in a market filing.
"The Group assumes capital expenditures of approximately PLN 34 billion in 2016-2020, not including capitalized costs related to removal of overburden. The sum constitutes a continuatiuon of the PLN 50 billion set in the prior strategy," a statement read.
Apart from that, PGE plans to participate in the growth of renewable energy sources so as to generate approximately 25 percent of Poland's RES electricity production in 2030.
Beyond 2020, the firm will be implementing a new investment program, dependent on selected strategic options, developing modern coal-fired power generation, off-shore wind farms or a nuclear power plant.
A new strategy should allow PGE to achieve at least 40 percent share in the domestic power generation market beyond 2020.
