Thursday, 11 February 2021
Ørsted and PGE Polska Grupa Energetyczna. have signed an agreement to form a 50/50 joint venture for the development, construction and operation of two offshore wind projects in the Baltic Sea with a total potential capacity of up to 2.5 GW. Block Island Wind farm off the coast of Rhode Island (Ørsted)
Ørsted will subscribe for new shares representing 50% of the total share capital in PGE’s two offshore wind projects, Elektrownia Wiatrowa Baltica-3 sp. z o.o. (‘Baltica 3’) and Elektrownia Wiatrowa Baltica-2 sp z o.o. (‘Baltica 2). Baltica 3 has a capacity of approximately 1 GW and Baltica 2 has a capacity of approximately 1.5 GW. The subscription price for the newly issued shares in Baltica 2 and 3 will amount to a total of PLN 657 million.