Poland’s largest electricity supplier, PGE, is planning an aggressive expansion into wind power, nuclear and gas it revealed today.

The company is eyeing up to 20 potential takeover targets, all outside Poland, said chief executive Tomasz Zadroga at a press conference in Warsaw.

He added that a planned flotation of the company’s renewable energy arm would now be deferred until 2013 at the earliest, to allow time for any future wind acquisitions to boost the unit’s value.

PGE’s third quarter income rose 12 per cent to $260m on the back of higher energy prices and sales.