Key investments

The priority for ENEA Capital Group’s development is the realization of strategic goals. The business strategy in force in 2012 was based on three pillars: development of operations, improvement of operating efficiency and building a socially responsible business. The companies realized these strategies through numerous investments, e.g. in the extension and modernization of the infrastructure, in new generating capacities and renewable energy sources.

During the subsequent years activities within this field will be developed pursuant to the guidelines of a new, adopted in H2 2013, “Corporate Strategy of ENEA Capital Group for the period 2014 – 2020”. In accordance with the new strategy the superior idea of the Group operations is building a value for shareholders and ensuring energy supply safety for customers.

In the "generation" segment the main objective for the coming years is a construction of a new coal-fired power block of a total capacity of 1 075 MW gross in Kozienice. The new investment will be put into operation in 2017. It shall be constructed by a consortium of Hitachi Power Europe GmbH and Polimex - Mostostal S.A. Capital provided for the investment is approximately 5.1 billion PLN (net without financing costs). Simultaneously, the Capital Group invests in the modernization of the remaining blocks 200 and 500 MW operating within ENEA Wytwarzanie. 

Capital expenditures of ENEA Capital Group related with renewable energy sources exceeded PLN 355 million in 2012. In April ENEA S.A. acquired all the shares of the Windfarm Polska company engaged in the production of electricity. Belonging to the Company wind farm is located in Bardy in the zachodnio-pomorskie voivodeship and consists of 25 wind turbines. It shall generate approximately 150 thousand MWh of electricity per year. Further investments in green energy are also planned. By 2020 ENEA Wytwarzanie is to achieve 250-350 MW of installed capacity in wind. The Company is also investing to increase its generating capacities in biogas. 

In the "distribution" segment ENEA Operator Company suffered in 2012 capital expenditures of approximately PLN 868 755 thousand gross, which is around 102% of the planned expenditure. New investments are to ensure an appropriate level of network reliability, secure the required quality of electricity supply and allow for the implementation of obligations under the Energy Law for connecting energy consumers and producers to the distribution network.

The main directions of ENEA Operator investments included in the investment plan for 2012 are related to network investments, for which almost 90% of the expenditure layout was spent in 2012.

Furthermore, investments were also connected with information and communication technologies as well as infrastructure to support business. 

Network investments included, among others, connections of new Customers and new sources, and thus the construction of new networks and modernization works associated with improvement of service quality. 

The most important network investments carried out by ENEA Operator in 2012 include:

• construction of 110/15 kV station in the villages Niwa, Piastowice, Gądki, Włoszakowice and Babimost,
• construction of 110 kV overhead power line Środa - Kromolice (in the first stage Środa - Słupia Wielka)
• modernization of 110 kV overhead power line Kamień Pomorski - Recław,
• modernization of 110 kV overhead power line Kamień Pomorski - Gryfice,
• modernization of 110 kV overhead power line Morzyczyn - Drawski Młyn,
• modernization of 110 kV overhead power line Kluczewo - Barlinek. 

ENEA S.A. concluded a framework agreement on the exploration and extraction of carbohydrates from shale on 4 July 2012. The following companies joined the agreement: ENEA S.A., PGNiG S.A., KGHM Polska Miedź S.A, PGE S.A. and Tauron Polska Energia S.A. Estimated expenditures for prospecting, exploration and gas production in the first three locations Kochanowo, Częstkowo and Tępcz pads amount to PLN 1.72 billion. 

ENEA Capital Group also plans to participate in the construction of the Polish nuclear power plant. ENEA S.A.,KGHM Polska Miedź S.A., PGE S.A. and TAURON Polska Energia S.A. signed a letter of intent in September 2012 to take steps to establish the principles of cooperation in the construction of the first Polish nuclear power plant.