The mining machinery manufacturer modifies strategic directions to take advantage of the opportunities and benefits of the global transition to low-carbon economies. The Group wants to become a leader of green transformation among the Polish mining companies. The first step is to enter the photovoltaic sector based on the combined resources and competencies of Projekt Solartechnik (P+S), TDJ and FAMUR Group. The strategic decision to start building a holding company that invests in green transformation is expected to allow the FAMUR Group to achieve a minimum of 70 percent of non-steam coal revenues by 2024.

The FAMUR Group, in connection with the announced active search for development paths outside mining, has defined new strategic directions that include optimisation of mining assets, re-branding of selected production plants, and development into a holding investing in green transformation, first of all by entering the sector of large-scale photovoltaics and PV solutions for the B2B sector and a consistent search for attractive investments in the area of RES, transport and logistics and other prospective industries. As a part of the modification of strategic directions, the FAMUR Group decided to abandon diversification in the field of hard rock mining (HRM) and focus on expansion towards green energy.

"TDJ as a stable and long-term investor will support the FAMUR Group in its expansion in new directions, and its cooperation with Projekt Solartechnik has opened the possibility for the Group to enter the PV segment. The construction of the joint entity and the resulting advantages provide a platform to become a significant player in the photovoltaic sector," emphasises Tomasz Domogała, the Chairman of the Supervisory Board and the owner of TDJ.

Projekt Solartechnik is one of the leading players in the Polish renewable energy market with experience gained in 10 European markets with projects of over 300MW capacity.

"Although Poland's energy transformation is undoubtedly a challenge for the mining sector, we want to use it as a catalyst for development of the FAMUR Group. Entering the photovoltaic sector is the result of modifying strategic directions in the face of a dynamically changing economic environment. Our competences in the industry and power sector, the scale of the implemented projects, strong financial foundations combined with the support of TDJ - a stable and long-term investor, allowed us to start activities related to the development of the PV segment within the Group's structures. However, the advantages and broad development capital that FAMUR and TDJ bring to the joint venture, as well as the unique competence and experience of the Projekt Solartechnik team, provide a unique basis for its rapid and effective scaling," comments Mirosław Bendzera, President of the Management Board of FAMUR SA.

By consolidating the potential of the three companies, the FAMUR Group will gain over 1GW of PV project capacity in its portfolio. It includes approximately 130 MW of 2019 and 2020 auction-winning projects that are currently under construction with anticipated completion by the end of 2021 and over 840 MW of projects under development.

"Our professional development team, in-house construction facilities and design office specialising in PV projects have made us focus on offering our customers proprietary solutions and assembly systems, building our own photovoltaic installations and trading components. We are pleased that by combining the potential of the FAMUR Group, TDJ and Projekt Solartechnik we will be able to even more extensively and effectively support the development of photovoltaic sector in Poland, and ultimately in other European markets ," comments Maciej Marcjanik, President of the Board and co-owner of Projekt Solartechnik.

As a result of the actions taken by TDJ, P+S and the FAMUR Group, an entity will be created in which projects and competences necessary for the implementation of plans in the field of PV will be concentrated. In the newly created structure, the FAMUR Group will have a controlling share package. In the coming quarters, the Group will develop its service offering for the construction and implementation of large-scale photovoltaic installations and PV solutions for the B2B segment.