Polish utility PGE plans to invest €20bn (PLN85bn) in renewable energy projects by 2035, according to its new corporate strategy.
The group aims to deliver 4GW of offshore wind, 4GW of onshore wind, and 1GW of solar capacity over the next decade, as it works to cut CO₂ emissions by 75% and achieve climate neutrality by 2050.
“Renewables are central to our transformation and key to delivering competitively priced energy,” said PGE president Dariusz Marzec (pictured).
By 2035, PGE expects its renewable fleet to generate 28TWh annually-over 20% of Poland’s projected renewable electricity output.
The company is developing offshore wind projects in the Baltic Sea totalling 7GW, with at least 4GW targeted for completion in the strategy timeframe, enough to supply clean electricity to 7.5 million households.
PGE also plans to scale up its battery and pumped storage capacity to over 18GWh, accounting for 60% of Poland’s projected total by 2035. Investment in energy storage will total PLN 14 billion.
To support variable generation, the company will install 10GW of flexible gas-fired power as a bridging technology, adaptable to burn decarbonised fuels in the future.
“This is about building a modern system that enables large-scale renewables while maintaining supply stability,” said Marzec.
PGE’s full investment plan totals PLN 235 billion, with 36% allocated to renewable energy, storage, and flexible generation. Of this, PLN 51 billion will go to offshore wind and PLN 34 billion to onshore wind and solar.
The strategy forecasts group EBITDA rising from PLN 11 billion in 2024 to PLN 30 billion in 2035.