27.2 Cash flows from investing activities

In 2022, the largest expenditure on the acquisition of property, plant and equipment and intangible assets was incurred by the following segments:

• Distribution PLN 2,372 million
• Other activity PLN 1,839 million.
• District Heating PLN 1,114 million,
• Conventional Generation PLN 704 million,
• Renewables PLN 603 million,

Companies in the Conventional Generation segment are required to have Mine Liquidation Fund funds collected and invested in accordance with the requirements of the Mining and Geological Law.

In the current reporting period, PGE EO S.A. purchased:

• 100% interest in Collfield Investments sp. z o.o. holding 100% interest in three special purpose vehicles (Future Energy sp. z o.o., Radzyn Clean Energy Poland sp. z o.o., Elwiatr Pruszyński sp. z o.o.) operating three wind farms with a total capacity of 84.2 MW. Expenditure on the acquisition of this company amounted to PLN 939 million and cash acquired amounted to PLN 183 million.
• 100% stake in Mithra companies owning 35 photovoltaic projects with a total capacity of 85 MW. Expenditure on the acquisition of these companies amounted to PLN 41m and cash acquired amounted to PLN 200 thousand.

In the current reporting period, the amount of 111 million relates to the proceeds from the sale of companies: Elbest sp. z o.o., TFI Energia S.A., Przedsiębiorstwo Usługowo-Handlowe TOREC sp. z o.o.

In the comparative period, the amount of PLN 368 million relates to proceeds from the sale of PGE EJ1 sp. z o.o.

In the comparative period, the total amount of PLN 118 million relates to cash of the sold PGE EJ1 sp. z o.o. (PLN 53 million) and the deconsolidated PGE Trading GmbH (PLN 13 million) as well as funds provided to EWB2 and EWB3 in a period of time when PGE lost control over them.