Orlen Plans 5.1 Billion Zloty Investment in Energa

Poland state-controlled refiner ORLEN SA announced late Wednesday plans to inject 5.11 billion zlotys ($1.43 billion) into its utility subsidiary, ENERGA SA. This capital increase will be executed through a rights issue as the energy giant seeks to solidify its control and support its broader transition strategy. The transaction is set at an issue price of 18.50 zlotys per share, with Orlen subscribing to the new stock. This financial move follows an initiative launched late last year by the refiner to acquire remaining minority shares and achieve full ownership of the unit. Currently, the refiner holds a 92% stake in the company. The company stated that the capital injection is intended to restructure the balance sheet of the utility and provide funding for future development. The proposal is scheduled to be presented at an extraordinary general meeting. Orlen views the utility as a critical element of its long-term energy transition strategy.