KGHM finalized its trading debut on the Renewable Energy Market

KGHM completed the acquisition of additional 7 photovoltaic farms, finalizing its trading debut on the Renewable Energy Market. The company now controls a complete portfolio of solar power plants with a capacity of nearly 50 MW.

“The transaction completed by KGHM is the first step in its ambitious energy transition strategy. This is an important milestone that will lay the foundation for further development of the company’s own power generation facilities and another step toward diversifying the sources and making KGHM independent of the fluctuating market energy prices,” said Mirosław Kidoń, KGHM’s Deputy CEO for foreign assets and production.

The acquired assets are located in Poland’s four provinces: Dolnośląskie, Pomorskie, Wielkopolskie, and Łódzkie. Projekt Solartechnik, part of the Grenevia (Famur) and TDJ groups, was responsible for their construction.

The energy transformation of KGHM Polska Miedź S.A. is currently one of the company’s priorities and is reflected in the adopted Strategy. KGHM is planning to meet 50 percent of its electricity needs from its own sources (zero- and low-carbon) by 2030, and to achieve climate neutrality in the longer term by 2050.

“Investments in RES strengthen KGHM’s position in global markets as a leader not only in the mining industry, but also as a leader in environmental responsibility. Energy transformation is not possible without copper. By adding photovoltaic farms to our assets, we are also giving a sign that we are hedging against market turbulence in the power sector. We are planning and have a vision for further development,” added Piotr Podgórski, the Chief Transformation Officer at KGHM Polska Miedź S.A.

The implementation of the adopted assumptions is 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 land, and is also developing assumptions 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.

The acquired photovoltaic power stations will cover about 2 percent of electricity consumption. They will also initiate the next phase of the energy transition related to the implementation of a new structure for integrating RES assets into the KGHM Group.

Project Solartechnik has several years of experience in the market and boasts a portfolio of solar projects in England, France, Germany, Belgium, Romania, and Hungary, in addition to those in Poland.