The Strategy sets the directions for the TAURON Group’s short and long-term expansion. The priority is to maintain a stable financial position and lay down solid foundations for growth in a changing environment. The Update of the Strategic Directions additionally highlighted the importance of the transformation of the energy mix, including the development of low- and zero-emission sources as well as the optimization of the capital expenditures portfolio.
In the longer term, the Strategy assumes full utilization of the potential of the TAURON Group’s assets, which will also be conducive to innovations and focus on customer needs. Taking into account the need for the Group’s energy transition, the optimization of the investment portfolio and maintaining financial stability as part of the Strategic Directions Update, a decision was made to carry out a market-based verification of the strategic options.
Low- and zero-emission power generation will be developed primarily through investments in renewable energy sources. By 2025 the Group is planning to invest in onshore wind farms (additional 900 MW), photovoltaic farms (additional 300 MW) and commence the process of engaging in the construction of offshore wind farms. Growth in the capacity of the Group’s renewable sources may take place under various business models.
In the case of some of the projects planned, it is assumed that financial partners will be recruited and investment projects will be carried out with an approx. 20% equity share of the TAURON Group where the Group will exercise control over such assets.
Flexibility of the Group’s asset portfolio will be enhanced by aligning the mining assets with the Group’s planned demand for fuel, reorganizing the Generation segment and the equity investments portfolio. Within the framework of this option, we verify the possibility of divestment of the Janina Mine and TAURON Ciepło. With respect to conventional power generation, permanent decommissioning of the 120 MW units and, past 2025 – the 200 MW units, is planned.
The successful exercise of these options will enable a sustainable transformation of the TAURON Group and an increase in the investment potential for the development of renewable energy sources.