In accordance with the Development Strategy of the ENEA Group until 2030 with an outlook to 2035, updated on 12 December 2019, in 2020 we focused on transformation to a low-emission concern and on investments in new products and services featuring advanced IT and digital solutions.
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As a responsible utility group, we conduct and develop our business in such a manner that we achieve our business objectives and, at the same time, satisfy the social needs and minimize the negative impact on the environment. We are committed to a sustainable and responsible transformation towards zero- and low-emission energy sources and a greater diversification of the existing value chain. We are constantly adjusting to the market environment and our stakeholder expectations, e.g. by developing innovative technologies and new business lines.
Stakeholder environment and key stakeholder expectations
Value growth
Competitive advantage
Climate protection
Green energy
Financial stability
Energy security
Currently we are working on a new strategy, which will fully address the challenges that the energy industry is facing. It is our ambition that this document accentuates even more the increasing importance of RES for the future of the sector and shows our horizon for moving away from hydrocarbon fuels, which will have a significant effect on the environment and the country’s socio-economic development.
Key directions of Group's development
These development directions form a foundation which is used to define strategic objectives for the Group supporting its transformation. These are :
- Diversification of the Group’s generation portfolio in the direction of zero-emission technologies,
- Reliability and continuity of electricity supply;
- Responsible partner in sustainable management of relations with local communities, the environment and customers;
- Ensuring financial security of the Group;
- Innovation in all aspects of the Group’s activity.
Additional information on the assumed effects of the current strategy may be found in Current Report No. 36/2019.
ENEA Group’s Strategy vs. climate
In 2020, ENEA S.A. entities responsible for strategic management, growth management, risk management and social responsibility continued internal consultations, launched in 2019, regarding the possibility of conducting analyses of the company’s business model on the climate and vice versa as well as analyses of resilience of the business model and strategy, taking into account various climate-related scenarios. As at the date of publication of this Statement, no final executive decisions have been made in this respect. However a decision has been made that the issues associated with minimizing the climate impact will have a significant place in the Group’s new strategy. Our new, more ambitious approach to this challenge will be shown through the priority given to investments in zero-emission energy sources. On the other hand, investments in low-emission sources will be focused on replacing coal-fired units with gas-fired installations that may flexibly cooperate with renewable energy sources.
LW Bogdanka strategy
On 2 December 2020, the Management Board of LW Bogdanka adopted the Development Strategy of LW Bogdanka S.A. in the Mining Area of the ENEA Group until 2030 (with an outlook to 2040), which was a response to the challenges posed by Poland’s Energy Policy until 2040. The Company will focus chiefly on maintaining its production capacity, upholding high profitability ratios, demonstrating respect for the natural environment and preserving the position of the region’s economic and social stronghold.
Key strategic actions in 2020:
In 2020 we carried out a number of initiatives, which are particularly relevant with regard to the objectives set out in our current development strategy. Special attention should be given to the following:
- ENEA Nowa Energia took over the management and development of projects based on renewable energy sources along with assets previously owned by the RES Segment within ENEA Wytwarzanie,
- the modernization of units 1, 4 and 5 in the Kozienice Power Plant and unit 5 in the Połaniec Power Plant was completed; the project increased the efficiency and reliability of operation of those units and reduced their environmental impact significantly,
- ENEA S.A. opted out from participation in the implementation of the Ostrołęka C Project to build an approx. 1000 MW unit (in the meantime a decision was made to change the unit’s fuel source from coal to gas). The reasons behind the decision to opt out of its capital involvement in the construction of the unit are related in particular with the intention to intensify capital expenditures in RES and to allocate expenditures related to the conversion of coal to gas-firing in the generation area to the existing generation assets that are fully owned by ENEA S.A..