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.
“We will bring our decades of experience to this new market to deliver green energy, create industrial development and local jobs, and assist Poland in becoming a leading offshore wind nation.”
PGE management board president Wojciech Dąbrowski said: “PGE, as the largest producer of electricity in Poland, with extensive experience in the domestic energy sector, has invited one of the leaders in the global offshore wind energy market to jointly develop, construct and operate offshore wind projects.
“The combination of the knowledge and experience of Orsted and PGE provides a solid foundation for the implementation of such an important investment in the domestic economy, which is the construction of two offshore wind farms in the Polish Exclusive Economic Zone of the Baltic Sea.”
Baltica 2 and 3 have already received environmental permits and signed grid connection agreements, and were awarded Contracts for Difference by the Polish Energy Regulatory Office on 7 April.
Subject to Orsted’s and PGE’s final investments decisions, Baltica 3 could become operational in 2026, while Baltica 2 could come online before 2030.