Integrated report 2021

29. Future investment commitments

As at December 31, 2021, PGE Group committed to incur capital expenditures on property, plant and equipment of approximately PLN 6,852 million. These amounts relate mainly to construction of new power units, modernisation of Group’s assets and purchase of machinery and equipment.

As at
December 31, 2021
As at
December 31, 2020
Conventional Generation 256 5,790
Distribution 1,058 1,346
District Heating 1,549 190
Renewables 414 185
Supply 1 3
Circular Economy 4
Other activity 3,570 175

The most significant future investment commitments concern:

  • Other activity – construction of two CCGT units and service agreement for two gas turbines – approximately PLN 3,429 million (as described in note 1.3, on October 1, 2021 this commitment, together with the entire organised part of enterprise, was transferred to PGE Inwest 8 sp. z o.o. as part of the division of PGE GIEK S.A.),
  • District Heating – construction of gas-and-steam CHP Nowa EC Czechnica in Siechnice – approx. PLN 1,141 million,
  • Distribution – investment commitments mainly related to grid assets with the total value of approximately PLN 1,058 million,

The increase in future investment commitments in the Renewables segment results from the start of a joint offshore project, as described in note 33.3.

Go to the top

Search results