PGE Energia Odnawialna S.A. consolidates its operations in the area of wind farms exploitation
On 30 September, 2014, the court registered a merger executed by transfer of all assets of the merged company i.e. Żuromin to the merging company – PGE EO. The merger was performed under Article 514 of the Code of Commercial Companies.
Żuromin was the PGE EO’s subsidiary. As of the day of merger, entered into its all rights and obligations. In effect, as of the merger date, PGE EO conducts on direct basis the activities performed previously by the merged company in the area of exploitation of the Żuromin wind farm of 60 MV capacity, developed in 2012.
The merger, executed within the enhanced effectiveness program in the PGE Capital Group, is another step towards optimization of business line operating management in the renewable energy sector. The strategy will enable reduction of operating costs, better results of consolidated companies, more effective use of support functions and continuous simplification of the capital structure.
The PGE Group with 311 MW capacity in wind energy has been already acting as one of the segment leaders. The PGE EO consists in 5 wind farms of total capacity of 180 MW,
whereas by 2015 – upon completion of the 90 MW Lotnisko and 76MV Resko II construction projects – the company will increase RES power up to 346 MW. The investment portfolio of the PGE CG includes two another advanced projects of wind farm construction of total capacity of 52 MW (Kisielice II and Karwice), delivered by the PGE Energia Natury company. Upon completion of all four investments in progress, total capacity will reach 529 MW by the end of 2015.
Another 12 projects of total capacity of app. 800 MW are at the early preparation stage. Decisions on commencement of delivery of these several projects will be made on individual basis, with consideration to financial feasibility analysis.
The PGE CG has been currently in the course of delivery of an ambitious investment program, which will significantly reduce the enterprise’s impact on the environment. Apart from the RES investments, the Company intends to disburse as much as PLN 16.3 billion in modernization of the operating production assets. The investments planned in the PGE Group by 2016 will contribute to reduction of sulfur dioxide emission by app. 60%, nitrogen oxides by 40% and PMs by more than 50%. It should be emphasized that these reduction values are complementary to the current ones. Within the last years, the PGE CG power plants have already reduced SO2 emission by 80%, NOX emission by 40% and PMs emission by 97%.