Polish utility company PGE has announced a substantial investment of €20 billion (PLN 85 billion) in renewable energy projects by 2035, as outlined in its latest corporate strategy. This investment will support the development of a significant portfolio that includes 4 gigawatts (GW) of offshore wind power, 4 GW of onshore wind, and 1 GW of solar energy over the next decade.
PGE aims to reduce its CO₂ emissions by 75% and reach climate neutrality by 2050. Dariusz Marzec, president of PGE, emphasized the central role of renewable energy in the company’s transformation and its commitment to providing competitively priced energy.
By 2035, PGE’s renewable energy capacity is expected to generate approximately 28 terawatt-hours (TWh) annually, accounting for over 20% of Poland’s projected renewable electricity output. Among its ventures, PGE is advancing offshore wind projects in the Baltic Sea, targeting a total capacity of 7 GW, with at least 4 GW slated for completion within the strategic timeframe. This capacity is projected to supply clean electricity to around 7.5 million households.
In addition to wind energy, PGE plans to expand its battery and pumped storage capacity to over 18 gigawatt-hours (GWh), representing 60% of Poland’s anticipated total storage capacity by 2035. The investment in energy storage systems will reach PLN 14 billion.
To complement its renewable energy production, PGE will also install 10 GW of flexible gas-fired power plants. These facilities will serve as a transitional technology, equipped to utilize decarbonized fuels in the future. Marzec noted that this approach aims to establish a modern energy system capable of supporting large-scale renewable integration while ensuring supply stability.
PGE’s full investment strategy totals PLN 235 billion, with 36% dedicated to renewable energy, energy storage, and flexible generation. This plan allocates PLN 51 billion for offshore wind installations and PLN 34 billion for onshore wind and solar projects. The company anticipates an increase in group EBITDA from PLN 11 billion in 2024 to PLN 30 billion by 2035.
