Current report no. 23/2021
Acquisition of a wind project by PAK Polska Czysta Energia Sp. z o.o.
Art. 17 item 1 MAR – inside information
Contents of the report:
Zespół Elektrowni Pątnów-Adamów-Konin SA („Company”) informs that on August 18, 2021 PAK Polska Czysta Energia Sp. z o.o. (a subsidiary of the Company) signed an agreement with KI Foundation, seated in Malta, for the purchase of 100% shares in the special purpose vehicle Farma Wiatrowa Kazimierz Biskupi Sp. z o.o. with its headquarters in Warsaw, which is implementing a project to build a wind farm.
The project provides for the construction of a wind farm consisting of 7 wind turbines with a total capacity of 17.5 MW, in Kazimierz Biskupi, in the immediate vicinity of Pątnów power plant ("Farm"). Favourable wind conditions in this region allow for estimation of the annual production of the farm at nearly 60 GWh. The project has a complete set of administrative and legal permits allowing the commencement of construction works and connection of the Farm to the network. The expected date of launching the Farm is the third quarter of 2023. The total capital expenditure related to the acquisition and implementation of the Farm will amount to nearly PLN 150 million. In 2019, the Farm won an auction for sale of electricity to renewable energy producers, in which a total of 0.55 TWh of electricity was contracted for over a 15-year period, starting from 2023, with a reference price of PLN 214.47 / MWh (indexed in accordance with the rules of the res auction).
The acquisition of the Farm is the first step in the implementation of the development strategy of ZE PAK SA Capital Group in the area of wind energy and it contributes to the acquisition of competences in the area of project management in this field. The Company intends to implement wind energy projects on the basis of its own post-mining land resources, but it also does not exclude further acquisitions of external projects.
Signatures of persons representing the Company:
Piotr Woźny – President of the Management Board
Maciej Nietopiel – Vice President of the Management Board