Tauron Polska Energia SA has released its annual report for 2022, revealing the company's renewable energy generation dropped 9% to 1.57 TWh in 2022, despite an increase in production from photovoltaics (PV) and wind. According to the company, the fall in progressive sustainable energy development was attributed to low inflow from biomass, which fell due to a rise in feedstock prices and adverse hydrological conditions, affecting hydropower.
According to CEO Paweł Szczeszek, the group’s investment in renewable energy sources increased five-fold to PLN459 million (US$107 million), with a number of new projects in the pipeline. Tauron commissioned two wind farms and one PV facility under its Green Turn strategy.
Earnings before interest, tax depreciation, and amortization (EBITDA) increased 26% to PLN476 million (US$110.1 million), accounting for 12% of the group total. The sales revenue in the renewable energy segment had a 37% increase to PLN 909 million. Nevertheless, despite the growth reported in renewable energy sales, consolidated revenue increased 46% to PLN37.3 billion (US$8.7 billion) backed by the sale of electricity, gas, and emission allowances.
As per the report, Tauron has 417 MW of installed wind capacity at 15.55 TWh but was almost flat compared to 15.59 TWh in 2021. Despite the financial results, the company faces challenges, especially with the drop in energy production, calling for more innovative measures to tackle business operations, particularly in the renewable energy industry.
