Published by Global Banking & Finance Review®
Posted on November 26, 2025
2 min readLast updated: January 20, 2026
Add as preferred source on GoogleOrlen aims to buy out Energa minorities for full control, integrating it into its energy strategy with a focus on renewables and low-emission sources.
GDANSK (Reuters) -Polish state-controlled refiner Orlen said on Wednesday it plans to buy out the remaining shares in its utility unit Energa to take full ownership, with a price tag of about 709 million zlotys ($189 million).
The move will see Orlen integrate the utility more deeply into its energy transition strategy. The refiner is offering 18.87 zlotys per share for the 37.6 million shares it does not already own.
Shareholders can submit sale offers between December 1 and December 17, the company said in a regulatory filing. It said that it could also start buying Energa shares on the market from November 27.
Orlen, which acquired a majority stake in Energa in 2020, is pursuing a 380-billion-zloty investment strategy focused on renewables, low-emission sources like offshore wind, and nuclear power.
Taking full control of Energa and its distribution network is seen as a way to better execute this transition plan, giving Orlen command over key grid infrastructure needed for new energy projects.
The decision comes amid broad uncertainty in Poland's energy sector, as the government has yet to announce a plan for the unprofitable coal assets that burden other state-controlled utilities like PGE and Tauron.
Poland's government last year scrapped a plan by its predecessors to create a national agency that would take over coal assets from utilities, leaving companies to pursue individual transformation paths.
(Reporting by Marta MaciagEditing by Bill Berkrot)
Utility investment refers to the allocation of capital into companies that provide essential services such as electricity, water, and natural gas. These investments are often seen as stable and can yield consistent returns.
Renewable energy is energy generated from natural resources that are replenished at a faster rate than they are consumed. Examples include solar, wind, and hydroelectric power, which are crucial for sustainable development.
An investment strategy is a plan designed to guide an investor's decisions on how to allocate assets in order to achieve specific financial goals. This includes considerations of risk tolerance, time horizon, and market conditions.
A majority stake refers to owning more than 50% of a company's shares, giving the owner significant control over the company's decisions, operations, and direction.
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