Polenergia plans to issue shares for up to PLN 3.4 billion. The General Meeting of Shareholders approved the resolution on the authorized capital of the company
Polenergia plans to issue shares for up to PLN 3.4 billion. The General Meeting of Shareholders approved the resolution on the authorized capital of the company
Extraordinary General Meeting of the Shareholders of Polenergia S.A. approved the resolution on the authorized capital of the company. This means all-clear to shares in the years 2024-2027, the value of which may reach PLN 3.4 billion. The vast majority of the capital obtained this way will be allocated to the implementation of Polenergia's strategic projects - the construction of wind farms in the Baltic Sea.
This is a historic moment, Polenergia is entering the open waters. The shareholders' decision to issue shares for a huge amount of PLN 3.4 billion opens up the opportunity for our Group to enter a completely different league. We are on the threshold of implementing the largest wind farms in the history of our country. Polenergia is stronger than ever before and has record financial results. We are growing at an unprecedented pace, consistently pursuing our mission - restoring harmony between man and nature. With a view how to build energy balance wisely and in harmony with nature for us and future generations.
Dominika Kulczyk
Chairwoman of the Supervisory Board of Polenergia S.A.
The capital contributed to the company, up to PLN 3.4 billion, will be mainly allocated to the development of offshore wind farms. From 85 to 95% of the funds planned to be obtained by Polenergia through the share issue are to be allocated for this purpose. Up to 10% will go to the development of onshore wind and photovoltaic farms. Up to 5% - for the development of hydrogen and electromobility projects.
The company plans to obtain funds for the construction of offshore wind farms from two sources - one is funds obtained as part of the planned share issues. The second one is debt financing through a consortium of banks built by the company. This is one of the tasks facing the recently completed Polenergia Management Board.
The shareholders' decision shows the great faith of the market and investors in the potential of Polenergia and our offshore projects. The vote took place without a single objection. The possibility of issuing shares and then establishing financing from banks will allow us to move to the next stage - the construction and launch of our first offshore projects. The construction of wind farms in the Baltic Sea will open a new chapter in the history of the Polish energy industry. Polenergia is already one of the leaders in the development of the offshore wind energy sector in Poland. The launch of the Bałtyk projects will ensure us a permanent place among the largest producers of renewable energy in this part of Europe.
Jerzy Zań
President of the Management Board of Polenergia S.A.
Polenergia, in cooperation with the Norwegian Equinor, is developing three wind farms in the Baltic Sea with a total capacity of up to 3,000 MW. The Bałtyk I, II and III projects will power over 4 million households with green energy. The first energy from the two most advanced projects, Bałtyk II and Bałtyk III, will flow in 2027. The commercial stage of their use is planned from 2028.
In the next phase of the development of offshore wind energy in Poland, Polenergia and Equinor are developing the Bałtyk I offshore wind farm. The project with a capacity of up to 1,560 MW is the largest wind farm implemented so far in the Baltic Sea. Bałtyk I will be approximately 80 km from the shore.
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Polenergia SA, formerly Polish Energy Partners SA, is a Poland-based company that specializes in the development, implementation and management of electricity and heat generation projects. The Companyâs services are divided into three segments: Energy Outsourcing, including renders operator services as well as production and sales of electricity and heat generated in its plants; Biomass Fuels, including production of renewable energy made from agricultural biomass; and Wind Energy, including development and sales of wind farms as well as construction and operation of wind farms. The Company also offers services in the areas of development and set-up of new projects, including technical consultancy, project financing and operational services. Additionally, it sells solid, liquid and gas fuels.
POLENERGIA S.A. 
