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MarketScreener Homepage  >  Equities  >  Warsaw Stock Exchange  >  Polski Koncern Naftowy ORLEN Spólka Akcyjna    PKN   PLPKN0000018

POLSKI KONCERN NAFTOWY ORLEN SPÓLKA AKCYJNA

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Polski Koncern Naftowy ORLEN Spólka Akcyjna : PKN ORLEN will meet with potential offshore wind farm suppliers

12/01/2020 | 11:45am EST

PKN ORLEN and the special purpose vehicle Baltic Power are organising an online meeting with companies interested in cooperation in building offshore wind farms. During the meeting, the potential supply chain participants will be briefed about the status of preparations for the project, its timetable, and PKN ORLEN's approach to cooperation with local suppliers.

PKN ORLEN Offshore Wind Supply Chain Meeting 2020 marks the launch of a wide-ranging technical dialogue with the market. As an extension of the dialogue, the Company has planned for 2021 workshop meetings devoted to the individual technical areas of the project.

PKN ORLEN's plans to develop offshore wind power generation in the Baltic Sea are an opportunity for Polish enterprises. Investments in offshore farms will require a strong and efficient supply chain. The conditions in the Baltic Sea, Poland's geographical location and the already declared readiness of companies to undertake a new business venture create for the offshore wind industry an opportunity to become the driving force of the Polish economy. The project also means multi-billion investments and creation of thousands of jobs for qualified personnel.

PKN ORLEN plans to build wind farms in the Baltic Sea with a significant participation of local businesses, both as manufacturers of selected components and sub-suppliers for experienced foreign manufacturers. Given the costs and 25 years of planned operation under extreme, marine conditions, service providers and suppliers of components for offshore wind farms are required to meet strict quality requirements. It is therefore vital that industry and investors collaborate in order to satisfy mutual expectations.

PKN ORLEN Offshore Wind Supply Chain Meeting 2020 will be held in Polish and English. Both registration and participation in the event are free of charge. For more details and the registration form, go to the event's website www.balticpower.pl/OffshoreMeeting2020

PKN ORLEN is the first fuel and energy company in Central Europe to declare an intention to achieve emission neutrality by 2050. By 2030, the Group will reduce its CO2 emissions from its current refining and petrochemical assets by 20%, and CO2/MWh emissions from electricity generation assets by 33%. The project to build offshore wind farms, now at an advanced stage of preparation, is for the Company one of the key ventures that will be instrumental in achieving these objectives.

Disclaimer

PKN Orlen SA published this content on 01 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2020 16:44:02 UTC


© Publicnow 2020
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Sales 2020 83 369 M 22 286 M 22 286 M
Net income 2020 2 573 M 688 M 688 M
Net Debt 2020 14 962 M 4 000 M 4 000 M
P/E ratio 2020 10,7x
Yield 2020 3,24%
Capitalization 26 390 M 7 034 M 7 054 M
EV / Sales 2020 0,50x
EV / Sales 2021 0,45x
Nbr of Employees 22 337
Free-Float 67,6%
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Average target price 60,00 PLN
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Daniel Obajtek President & Chief Executive Officer
Józef Wegrecki Head-Operations
Jadwiga Lisisz Member-Supervisory Board
Malgorzata Niezgoda Member-Supervisory Board
Anna Wojcik Member-Supervisory Board