27.3 Cash flows from financing activities
Proceeds from issue of shares
The proceeds from the share issue of approximately PLN 3,197 million are intended to support PGE Group’s investments in the development of renewable energy sources, decarbonisation through the development of low-carbon sources and the development of the distribution segment.
The funds raised from the share issue can only be used for investments in the three areas described above. The way in which the issue proceeds are spent will be subject to detailed reporting and audit.
Proceeds from share issue for non-controlling interests
Proceeds of 33 million in the current period and 419 million in the comparative period relate to half of the payments made by Ørsted for the subscription and capital increase in the contractual joint operations, i.e. EWB2 and EWB3.
Proceeds from loans, borrowings
In the current reporting period, PGE S.A. utilised available loans totalling PLN 2,200 million (PLN 273 million in 2021). In addition, companies in the Conventional Generation and District Heating segments received loans and borrowings from environmental funds worth approximately PLN 93 million (PLN 316 million in 2021).
Repayment of loans, credit facilities, bonds and leases
In the current reporting period, PGE S.A. repaid loans with a total value of PLN 3,985 million (PLN 976 million in 2021). PGE GiEK Branch Elektrownia Bełchatów repaid a loan of PLN 156 million in the current period (PLN 90 million in the previous period).
In addition to the above, the item mainly includes the repayment of overdrafts of PLN 94 million at PGE Paliwa.
Payments of the principal part of the lease obligation amounted to PLN 47 million in the current period and PLN 53 million in the previous period.
In the current reporting period, the item mainly includes interest on loans and borrowings of approximately PLN 270 million, on bonds of PLN 99 million, on financial instruments (CCIRS and IRS) of (-) PLN 65 million, and on leasing liabilities of PLN 41 million.
In 2021, the item mainly shows interest on loans and borrowings of approximately PLN 139 million, on bonds of PLN 41 million, on financial instruments (CCIRS and IRS) of PLN 137 million, and on lease liabilities of PLN 41 million.