The board of the Polish “Orlen” analyzes the investment plans until 2030 – interview | Business

“In the current strategy of Orlen, it is planned to allocate about 320 billion for investments until 2030. zlotys This is a large amount. We are carefully analyzing all the projects approved by the previous board”, stated Ireneusz Fafara, CEO of Orlen.

“We are analyzing whether these were rational ideas, whether their implementation helps to strengthen the energy security of the country, whether they contribute to energy transformation and Orlen’s value creation,” he added.

“We draw conclusions based on which we will update the strategy and ensure that investment costs are more realistic,” he added.

Orlen’s CEO emphasized that zero-carbon energy will remain one of the pillars of the renewed strategy.

“We have high hopes for offshore and onshore projects, as well as for small modular reactors. We recently signed a preliminary contract for the purchase of two photovoltaic and one wind power parks, the total installed capacity of which will increase the renewable energy production capacity of the Orlen group by almost 30 percent,” he said.

“We also have five licenses for the construction of wind farms in the Baltic Sea. Thus, open sea energy is one of the main directions of our development and will remain so in the future”, added I. Fafara.

When asked if Orlen is considering acquiring more companies, the CEO said: A company the size of Orlen cannot afford to stand still. We must constantly develop our activities, analyze all business opportunities that correspond to our activities and can provide the necessary synergy.”

I. Fafara also said that Orlen is considering a new operating model for Orlen Synthos Green Energy. In his opinion, the development of small modular reactors is important for Poland’s energy security.

“American technology – yes, but the company responsible for the investment must guarantee its safe operation. We are working on this issue and we hope to be able to reach an agreement”, said the CEO of Orlen about the future of Orlen Synthos Green Energy and the development of small modular reactors.

Orlen Synthos Green Energy (OSGE) is a company owned equally by Orlen and the private chemical concern Synthos, owned by Michal Solovov.

OSGE plans to build a fleet of GE-Hitachi BWRX-300 nuclear reactors in Poland.