PGE Energia Odnawialna S.A.

PGE Energia Odnawialna S.A. is a subsidiary of PGE Polska Grupa Energetyczna S.A. – Poland‘s largest power conglomerate and one of the largest power sector players in Central and Eastern Europe. The Company was established in 1993 as a result of restructuring of the Polish power sector. Back then, it operated under the name of Elektrownie Szczytowo Pompowe S.A.

In 2010, a decision was made to consolidate the PGE Group‘s renewable energy assets. As a result, a new Group was established, comprising 21 subsidiaries. Within PGE Energia Odnawialna S.A. there are four separate operating Branches. Currently, the Group manages 29 hydroelectric power plants and one wind farm. It is also implementing a number of development projects focused on the use of wind, water and biomass energy, as well as on photovoltaics (solar energy).

The Group‘s core business consists in the generation of electric power from Renewable Energy Sources (RES) and the provision of Ancillary Control Services (ACS) (under an agreement with PSE Operator S.A.).

The total installed capacity of the Group‘s generating units (hydroelectric power plants and wind farms) amounts to approximately 391 MW, which gives it an approximately 17.1% share in the Polish market of power generation from RES*. In 2010, PGE Energia Odnawialna S.A. and the Group companies generated approximately 1,005 GWh of electricity, relative to 924 GWh in 2009 and 889 GWh in 2008. Moreover, in the same year, the Group sold property rights attached to Certificates of Origin with a total value representing approximately 475 GWh of output.

The Ancillary Control Services are provided by four pumped-storage power plants, whose total installed capacity exceeds 1,507 MW. Two of them - the ESP Żarnowiec Pumped-Storage Power Plant and the ESP Porąbka–Żar Pumped-Storage Power Plant are the largest facilities of this kind in Poland. The pumped-storage power plants are ready to accept surplus power from the power grid and supplement any power shortages in the national power system. For more information on the role and operation of pumped-storage power plants, see the section devoted to power generation technologies.

The objective behind the Group‘s strategy is to maintain its position of a leading provider of Ancillary Control Services and to become Poland‘s leader in renewable energy generation from water and wind. The main development directions of PGE Energia Odnawialna S.A. are to implement projects involving wind power generation and use small hydroelectric power plants.