Polish Briefing 21 April, 2020 9:00 am   
COMMENTS: Mateusz Gibała

Polish Briefing: Acquisition of Energa, LNG deliveries and RES auctions

What goes on in Poland on the 21st of April.

Energa’s shareholders responded to the call of PKN Orlen

On April 20th the PKO BP Brokerage House, an intermediary in the call to subscribe for sale of all shares issued by the Gdańsk group, informed that the subscription covered the number of shares entitling to amount at least 66 percent of the total number of votes. Thus, one of the conditions of the call was met.

PKN Orlen has entered the next stage of the capital acquisition. – We are getting closer to achieving our strategic goal, which is the construction of one multi-energy group that will be able to meet the requirements of a competitive market. We are certain that the future belongs to strong concerns with diversified areas of activity, resistant to macroeconomic factors, as well as to extraordinary situations such as the state of the epidemic. We already have a strong energy division, which we will develop even more after the takeover of Energa. This will increase the stability of the entire group, strengthen the country’s energy security and, consequently, the Polish economy – said Daniel Obajtek, president of the board of PKN Orlen.

PGNiG will receive two more LNG deliveries from the USA

Last Saturday the 91st LNG delivery arrived at the LNG terminal in Świnoujście. In May, two more deliveries will arrive in Poland.

Al Khuwair methane ship delivered 91st LNG delivery to the terminal in Świnoujście. It is over 200 thousand cubic meters of liquefied fuel or 120 million cubic meters of natural gas after regasification. This is the 13th supply of blue fuel for PGNiG this year.

In May, two supplies of gas from the USA are to reach the LNG terminal under contracts signed by PGNiG.

The solar industry is calling for RES auctions this year

Renewable energy sources, including photovoltaics, can make a significant contribution to rebuilding Poland’s economic potential after the coronavirus pandemic. However, the lack of a renewable energy auction schedule is a serious barrier to the development of this sector and may lose its enormous potential – says the press release of the Polish Photovoltaic Association, which urges the government to provide dates for new renewable auctions.

The association reports that last year the capacity of solar power plants increased by 98 GW, to 586 GW. – Poland, with less than 1.6 GW in solar power plants, is still far behind large EU countries, where solar power counts in tens of gigawatts. However, the increase in new power is gaining momentum – says the communiqué.