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Poland: PGE and Orsted close JV agreement for Polish offshore wind projects 07 May 2021 Ørsted now each own 50% of the shares in the offshore wind projects Baltica 2 and Baltica 3, together comprising the Baltica Offshore Wind Farm, the largest offshore wind project in the Polish part of the Baltic Sea. The partners will jointly build and operate the offshore wind farms which will have a total installed capacity of up to 2.5 GW. In mid-March, the President of the Polish Office of Competition and Consumer Protection approved the joint venture. Subsequently, the partners submitted an application for registration to the National Court Register and have now closed the transaction, which means that Ørsted has acquired the 50% stake in the two project companies. ....
Danish developer Orsted and Polish energy company PGE have closed a 50:50 joint venture agreement to develop, construct and operate the up to 2500MW Baltica 2 and 3 offshore wind farms off the coast of Poland. The president of the Polish Office of Competition and Consumer Protection approved the joint venture in mid-March, after which the partners submitted an application for registration to the National Court Register and have now closed the transaction. Orsted has acquired 50% stakes in the two project companies. Orsted senior vice president and head of the Continental Europe region Rasmus Errboe said: “I’m delighted that we have established a strong offshore wind partnership with Poland’s leading utility. ....
Danish With the closing of the agreement, which was first announced on 10 February 2021, PGE and Ørsted now each own 50% of the shares in the offshore wind projects Baltica 2 and Baltica 3, together comprising the Baltica Offshore Wind Farm, the largest offshore wind project in the Polish part of the Baltic Sea. The partners will jointly build and operate the offshore wind farms which will have a total installed capacity of up to 2.5 GW. In mid-March, the President of the Polish Office of Competition and Consumer Protection approved the joint venture. Subsequently, the partners submitted an application for registration to the National Court Register and have now closed the transaction, which means that Ørsted has acquired the 50% stake in the two project companies. ....
With the passing of the first Polish offshore wind act, plans for offshore wind development in the Baltic Sea are at hand and the construction of the very first Polish offshore wind farms will soon become a reality. By 2030, approximately 5.9 GW will be commissioned in the Polish exclusive economic zone of the Baltic Sea. PGE Capital Group – the leader in offshore wind projects in Poland, is by then committed to deliver the 2.5 GW. Long-awaited regulatory framework is here The offshore wind act frames conditions of deploying offshore wind farms in the Polish zone of the Baltic Sea. The act also streamlines and simplifies necessary permitting procedures and includes provisions pertaining to establishing the local supply chain. Poland has decided to introduce a market-based scheme through two-sided contract for difference (CfD) model being the most cost-effective solution and also in line with the EU state aid principles and Renewable Energy Directive. ....