Polish state-run utility PGE plans to invest €20 billion (PLN 85 billion) in renewable energy projects by 2035, as part of a broader corporate strategy to cut carbon emissions and expand its clean energy portfolio, the company said on Thursday.
Under the new strategy, PGE aims to develop 4 gigawatts (GW) of offshore wind, 4GW of onshore wind, and 1GW of solar capacity over the next decade. The utility also committed to reducing its CO₂ emissions by 75% and reaching climate neutrality by 2050.
“Renewables are central to our transformation and key to delivering competitively priced energy,” said PGE president Dariusz Marzec.
By 2035, the company expects its renewable assets to generate 28 terawatt-hours (TWh) of electricity annually—equivalent to more than 20% of Poland’s projected renewable power output.
PGE is currently developing 7GW of offshore wind capacity in the Baltic Sea, with at least 4GW slated for completion by 2035. The company said this would be enough to power around 7.5 million households.
In addition to wind and solar, PGE plans to expand its energy storage portfolio, targeting more than 18 gigawatt-hours (GWh) of capacity through battery systems and pumped hydro storage—about 60% of Poland’s projected total by 2035. The investment in storage is expected to total PLN 14 billion.
To support the integration of variable renewable generation, PGE will deploy up to 10GW of flexible gas-fired power as a transitional measure, designed to be compatible with low-carbon fuels in the future.
“This is about building a modern system that enables large-scale renewables while maintaining supply stability,” Marzec said.
The utility’s total investment plan amounts to PLN 235 billion, with 36% allocated to renewable energy, storage, and flexible generation technologies. Of this, PLN 51 billion will be directed to offshore wind, while PLN 34 billion will go toward onshore wind and solar development.
PGE forecasts a significant increase in earnings, with EBITDA projected to grow from PLN 11 billion in 2024 to PLN 30 billion by 2035.
