As of the first quarter of 2024, in Poland European Energy has 130 MW of installed wind and solar power generation capacity, 70 MW under construction and approximately 5 GW of projects under development in all technologies: wind, solar and energy storage systems.
A letter of intent was also signed with two Polish municipalities – Barwice and Grzmiąc – to further explore the prospects of technology Power-to-X in the West Pomeranian region, in relation to the production of green hydrogen and e- methanol.
First quarter results: European Energy sets the foundations for further growth – Poland is one of the strategic markets
At the global level, European Energy has recorded an increase in electricity production by 51% since the first quarter of 2024. This avoided the emission of 129,093 tons of CO2. The company also has 1 GW of renewable energy projects under construction and 38 GW in the development phase.
“Further cooperation agreements with global leaders in their industries and building foundations for further growth” – these are the main conclusions from the results published by European Energy, covering the first quarter of 2024.
“The results show a dynamic growth trend both in energy production and business development. Partnership agreements concluded with world leaders set the path for further growth” – emphasized Olga Sypuła, country manager of European Energy Poland.
Strategic partnership with Mitsubishi HC Capital
The strategic partnership with Mitsubishi HC Capital, which acquired a 20% stake in European Energy, provided the company with EUR 700 million of capital for development. During the first quarter, the company entered into a significant power purchase agreement with Rio Tinto, a British-Australian mining company. European Energy will supply its partners with renewable energy from the 1.1 GW Upper Calliope solar farm in Australia.
“An important part of our strategy is not only the dynamic development of wind and photovoltaic projects, but also the development of Power-to-X technologies, such as the green hydrogen and e-methanol market based on the growing area of renewable energy sources” – added Olga Sypuła.
Based on its global experience and partnerships, European Energy sees the potential for the development of green fuels within the Polish offshore wind program.
“The production of green fuels is necessary to fully exploit the full potential of Polish offshore. Green fuels are an energy store that may be crucial in the event of failure of the transmission network. Thanks to the production of green fuels, the losses of energy produced from Polish offshore wind farms will be reduced be significantly reduced” – explains Robert Adamczewski, development director of European Energy Polska.
