KGHM and the Industrial Development Agency will cooperate in the area of Renewable Energy Sources

KGHM has signed a letter of intent with the Industrial Development Agency regarding cooperation in the area of Renewable Energy Sources and support for the energy transition. The event took place during the 16th European Economic Congress, which started in Katowice today (7 May).

The signatories of the letter of intent emphasise the possibility of wide-ranging cooperation in terms of investment in, among other things, renewable energy sources and energy storage facilities, as well as joint involvement in the energy transition of the Polish economy and Polish companies, which will contribute to a reduction of the carbon footprint and lower energy prices and costs, including for energy-intensive companies such as KGHM.

It is worth noting that an analysis of the environmental and carbon footprint of KGHM’s products - cathodes, wire rod and Cu-OFE wire - carried out last year by the Mineral and Energy Economy Research Institute of the Polish Academy of Sciences showed that their footprint is lower than the global average.

“KGHM has been gradually increasing the capacity of its own photovoltaic sources by planning both investments on its own sites and purchases of already-built plants operating in the country. By adding photovoltaic farms to the company’s assets, we are also hedging against market turbulence in the energy sector. The installations acquired recently will cover about 2 percent of our electricity consumption. At the same time, we are planning and have a vision for further development. A good example of our commitment is the cooperation we have just started with the Industrial Development Agency,” said Andrzej Szydło, the CEO of KGHM Polska Miedź S.A.

Piotr Krzyżewski, KGHM’s Deputy CEO for finance, added that the company was successfully implementing energy transition projects. “By 2030, the increase in the share of RES in KGHM’s energy mix will contribute to a significant decrease in its CO2 emissions. This will be facilitated by the photovoltaic power plant projects at the Głogów Copper Smelter and Refinery, the Cedynia Copper Smelter and Refinery, the Hydrotechnical Facility and the Obora Sand Quarry.

The letter of intent signed in Katowice provides for cooperation involving, among other things, analysis of real estate resources in terms of their use in investment projects or seeking opportunities for joint projects. The parties are also planning to hold a dialogue with representatives of the state administration, institutions of the European Union and industry organisations on topics related to the energy transition.

The energy transition of KGHM Polska Miedź S.A. is currently one of the company’s priorities. The company’s activities are not limited to the mergers and acquisitions market. KGHM’s ambitions go much further. The company is consistently developing photovoltaic and wind power projects on its own sites and is also developing its objectives regarding hydrogen solutions. 

KGHM is one of the largest consumers of electricity in Poland and accounts for nearly 2 percent of the country’s power consumption. The company anticipates an additional increase in demand in the near future that will correspond to its adopted development and modernization plans.