TAURON purchased wind farms. The group has doubled its wind power capacity

TAURON purchased five wind farms with the total capacity of 180 MW for 137 million euro. Thanks to the investment, the Group will almost double its installed wind capacity. The agreement concerning the acquisition of the farms has been signed today in Hamburg. It is the first major investment in line with the assumptions of the TAURON’s Green Turn.

- The purchase of wind farms by TAURON is in line with the Polish Energy Policy until 2040. It is an implementation of the new direction of green policy adopted by TAURON – says Krzysztof Tchórzewski, Minister of Energy.

TAURON purchased five wind farms located in northern Poland:

  • Śniatowo, 16 turbines with the total capacity of 32 MW
  • Mogilno, 17 turbines with the total capacity of 34 MW
  • Inowrocław, 16 turbines with the total capacity of 32 MW
  • Dobrzyń, 17 turbines with the total capacity of 34 MW
  • Gołdap, 16 turbines with the total capacity of 48 MW

Thanks to the acquisition of the wind farms, TAURON is now ranked second among Polish energy groups in terms of installed generation capacity from onshore professional wind power plants. All farms are connected to the high or medium voltage grid.

Our “Green Turn” is gaining momentum. The investment in wind farms is a milestone in the implementation of our strategic directions, i.e. increasing the share of low- and zero-emission sources in the generation mix to over 65 percent and reducing CO2 emission by 50 percent in the perspective of 2030 – says Filip Grzegorczyk, President of the Management Board of TAURON Polska Energia. – The purchase of wind farms from in.ventus is an opportunity to purchase assets in an area where acquisition opportunities are limited – adds the President of TAURON.

The negotiated purchase price for five wind farms is approximately 137 million euro. This amount will be subject to adjustments resulting from the cooperation model of both parties. The farms were arquired by special purpose vehicles through an increase in their capital.

The farms are located in areas with favourable wind conditions, and their technical condition and documented productivity allow for predictable revenues in the future.

In connection with the transaction, Hamburg Commercial Bank will withdraw its claims against TAURON Sprzedaż. It will also be possible to close the proceedings brought by the companies belonging to the in.ventus group against the companies of the TAURON Group.

After the acquisition, the total installed onshore wind capacity of the TAURON Group amounts to 380.75 MW. The total installed RES capacity increased to the level of 619 MW.

TAURON’s Green Turn

The updated strategic directions announced in May are based on the development of clean energy, which will be the basis for building the values of the TAURON Group. By 2025, investments in onshore wind farms (additional 900 MW), photovoltaic farms (additional 300 MW) and involvement in the construction of offshore wind farms are planned.

Planned investments in renewable energy sources with the total capacity of 1 200 MW and replacement of exploited units by the commissioning of the 910 MW unit in Jaworzno will allow the TAURON Group to reduce its emissions by over 20 percent by 2025 and by over 50 percent by 2030 compared to 2018.

Thanks to the implementation of the planned activities, it will be possible to increase the share of low- and zero-emission sources in the TAURON Group's generation structure to nearly 30 percent in 2025 and over 65 percent in 2030.

The updated strategic directions take into account changes in the market and regulatory environment, in particular the emergence of dual commodity market in Poland, the entry into force of the BAT conclusions, the reduction of support for conventional energy after 2025 and the increase in prices of CO2 emission allowances.

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03.09.2019

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