27.3 Cash flows from financing activities

In 2020, the PGE Capital Group acquired additional shares in the subsidiaries of EPORE sp. z o.o. (PLN 11 million) and PEC Zgierz sp. z o.o. (PLN 6 million), this increasing its shareholdings in these companies to 100%.

In 2019 the Group acquired additional shares in the subsidiaries PGE Gaz Toruń sp. z o.o. and PGE Ekoserwis sp. z o.o. The prices paid for these shareholdings were PLN 275 million and PLN 7 million, respectively.

In the current reporting period, PGE S.A. used available credits in the total amount of PLN 4,100 million (PLN 5,287 million in 2019). Additionally, the companies of the Conventional Power Generation segment obtained loans and credits from environmental funds in the amount of approximately PLN 249 million (PLN 70 million in 2019).

In the previous reporting period PGE S.A. issued two tranches of bonds with a total value of PLN 1,400 million. The bonds will be redeemed in 2026 (PLN 400 million) and 2029 (PLN 1 billion).

In the current reporting period, PGE S.A. repaid credits in the total amount of PLN 5,161 million (PLN 3,537 million in 2019). The company ECO-POWER sp. z o.o., which was acquired in the course of 2020, repaid debts under bank credits in the total amount of PLN 104 million. Currently the company has access to financing available within the PGE Capital Group. In the current period PGE GiEK Bełchatów Power Plant Branch repaid a credit in the amount of PLN 96 million (PLN 91 million in the previous period).

Apart from the above, the item includes mainly repayment of credits and loans obtained from environmental funds by the Conventional Power Generation segment in a total amount of approximately PLN 33 million and the Heat Generation segment in a total amount of approximately PLN 63 million.

Payments of the main part of lease liabilities amounted to PLN 42 million in the current period and PLN 53 million in the previous period.

In the previous reporting period, there was a partial redemption of bonds worth PLN 2,139 million by PGE Sweden AB (publ), a subsidiary of PGE S.A.

In the current reporting period, the item includes mainly interest on loans and credits in the amount of PLN 200 million, on bonds in the amount of PLN 60 million, on financial instruments (CCIRS and IRS) in the amount of PLN 66 million and on lease liabilities in the amount of PLN 37 million.

In 2019, the item included mainly interest on loans and credits in the amount of PLN 196 million, on bonds in the amount of PLN 75 million, on financial instruments (CCIRS and IRS) in the amount of PLN 41 million and on lease liabilities in the amount of PLN 15 million.