Polenergia unveils new strategy: offshore as a priority, ambitious capacity and EBITDA growth by 2030
Polenergia, the largest private energy group in Poland, has announced its new strategy for 2025-2030, focusing on offshore wind energy development and increasing onshore generation capacity with energy storage solutions. The company plans to more than double its production capacity to 1.5 GW and boost EBITDA to approximately PLN 1.6 billion. A key priority is the implementation of offshore projects, including three Baltic wind farms developed in partnership with Norwegian Equinor.
In brief
Polenergia has announced its strategy for 2025 to 2030, which assumes more than doubling generating capacity to 1.5 GW and increasing EBITDA to around PLN 1.6 billion. Offshore is Polenergia's priority: the Bałtyk 2 and Bałtyk 3 offshore wind farms, each with a capacity of 720 MW and developed with Norway's Equinor, are to deliver first power in 2027, with full commercial operation planned for 2028. Financing of PLN 1.5 billion has been secured, including from the issue of Green Bonds and the National Recovery Plan. Polenergia's EBITDA for 2024 amounted to PLN 642.1 million, 17 percent more year on year.
Strategic goals for 2030
Polenergia's new strategy emphasizes offshore wind energy projects, photovoltaic farms, and energy storage development. The company also aims to increase revenue from power purchase agreements (PPAs) with the B2B sector and contracts for difference (CFDs).
- The development of offshore wind farms in the Baltic is not only a groundbreaking project for our company but also a significant contribution by Polenergia to Poland’s energy transition. We are proud to enhance the competitiveness of the national economy while driving growth through large-scale investments. Our projects align perfectly with the ambitious climate goals of the European Union, contributing to a greener future for generations to come, said Adam Purwin, CEO of Polenergia S.A.
Offshore wind as a top priority
In its initial phase, Polenergia will focus on constructing the Baltic 2 and Baltic 3 wind farms, each with a capacity of 720 MW. According to the schedule, the first electricity will flow into the grid in 2027, with full commercial operations set for 2028. The company has been actively securing funding for these investments, raising PLN 1.5 billion through Green Bond issuance and financing from the National Recovery Plan.
Expanding onshore renewable energy and storage solutions
In addition to offshore projects, Polenergia is strengthening its onshore energy segment by building new wind and solar farms and developing energy storage systems. The company plans to increase its generation capacity by approximately 150 MW by 2030 and expand renewable energy projects in Romania.
- We will leverage our experience and know-how from recent years, enhancing onshore sources with new elements. We focus on solutions that enable the shared use of land, capacity, and grid infrastructure by wind turbines and photovoltaics. Energy storage systems will also be integrated, adding flexible capacity to our portfolio, emphasized Adam Purwin.
Polenergia is also investing in emerging technologies, such as artificial intelligence and breakthrough energy solutions via venture capital investments. The strategy includes potential adjustments to its asset portfolio, divesting non-core businesses that lack synergy with its main operations.
Stable growth and 2024 financial performance
The announcement of the new strategy coincided with the publication of Polenergia’s 2024 financial results. EBITDA rose to PLN 642.1 million (up 17% YoY), while adjusted net profit increased by 12% to PLN 307.4 million. The wind farm segment saw particularly strong growth, with EBITDA reaching PLN 632.1 million, a 35% increase YoY. The company generated over 1.4 TWh of clean electricity last year.
- We have had a very strong year, closing with significant growth in financial results. Our portfolio includes high-performing solar and wind farms, which produced over 1.4 TWh of clean electricity in 2024. This business ensures stable and recurring profits for Polenergia, forming a solid foundation for executing our new strategy and ambitious plans to significantly enhance the group's value in the coming years, concluded Adam Purwin.
Polenergia’s 2025-2030 strategy marks a bold step toward modern, sustainable energy, significantly contributing to offshore sector growth and the expansion of renewable energy capacity in Poland.
Source: Gazeta Morska · Compiled by: Kamil Kusier
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