The State Treasury took over on 31 December 2022 100 per cent of the shares of TAURON Wydobycie, which includes the Sobieski, Janina and Brzeszcze mining plants.

The process of spinning off mining assets from the TAURON Group is one of the most important energy transformation processes of the Group in recent years. “The separation of the mines from the Group’s structures was justified by the tightening policy of financial institutions which are moving to decarbonise their investment portfolios”, explains Paweł Szczeszek, President of the Management Board of the TAURON Group.

In the second half of October, TAURON concluded a conditional agreement with the State Treasury on the sale of TAURON Wydobycie shares, and by mid-December all conditions precedent to the agreement concerning the non-exercise of the pre-emptive right by the National Centre of Support for Agriculture (“KOWR”) to buy the company’s shares and the cancellation of TAURON Wydobycie’s debt to TAURON Polska Energia were fulfilled.

“The completion of the sale of TAURON Wydobycie shares and, as a next step, the spin-off of coal-fired generation assets to the National Energy Security Agency, will unlock our investment potential by strengthening the Group’s position with financial institutions. We will direct the largest financial stream in the coming years to the expansion of RES assets and the development of electricity grids”, announces Paweł Szczeszek.

The TAURON Group’s strategy, which has been implemented since June 2022, envisages a six-fold increase in the installed capacity in renewable energy sources and reduction of emissions by almost 80 per cent. The TAURON Group’s strategy priority is also to strengthen its leading position in energy distribution and to develop technologies enabling the management of dispersed energy sources.

Adrian Andrzejewski