Poland plans on closing the most polluting power plant in Europe by the end of 2036, a draft document released by local authorities said on Tuesday, after energy group PGE (PGE.WA) discarded plans to develop an open-pit coal mine that will support it.
PGE partners with Denmark’s Orsted on 2 offshore wind deals
Poland’s biggest power group PGE and Denmark’s Orsted have finalised a deal to jointly develop two offshore wind projects in the Baltic Sea, PGE said.
Under the terms of the deal, Orsted bought 50% in each of two PGE units developing two offshore projects totalling 2.5 gigawatts (GW). The transactions were worth a combined 686 million zlotys ($181 million).
“This is the price for today which guarantees that PGE will not incur any additional investment outlays on this project until the final investment decision,” PGE Chief Executive Wojciech Dabrowski told Reuters.
He said the final deal value could rise by up to an additional 1 billion zlotys, depending on the final terms of the investment.
EnergyPolandâs PGE and Denmarkâs Orsted complete Baltic wind power deal
Reuters
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The logo of PGE Group is seen on PGE Gornictwo i Energetyka Konwencjonalna S.A. (Mining and Conventional Energy) building at the Belchatow Coal Mine, the biggest opencast mine of brown coal in Poland, near Belchatow, December 2 , 2015. REUTERS/Kacper Pempel
Polandâs biggest power group PGE (PGE.WA) and Denmarkâs Orsted (ORSTED.CO) have finalised a deal to jointly develop two offshore wind projects in the Baltic Sea, PGE said on Thursday.
Under the terms of the deal, Orsted bought 50% in each of two PGE units developing two offshore projects totalling 2.5 gigawatts (GW). The transactions were worth a combined 686 million zlotys ($181 million).
WARSAW Poland’s biggest power group PGE and Danish counterpart Orsted have struck a deal to jointly develop two offshore wind projects in the Baltic Sea that…
Poland's biggest power group PGE and Danish counterpart Orsted have struck a deal to jointly develop two offshore wind projects in the Baltic Sea that could generate enough electricity to power four million homes.