Ocean Winds has signed a cooperation agreement with Polish energy company Tauron to construct offshore wind farms in the Baltic Sea.
Under the agreement, Tauron will receive 50% of shares in Ocean Winds companies, whose portfolio includes projects in the Baltic Sea.
In turn, Ocean Winds, a subsidiary of EDPR and Engie, will acquire half of the shares in Tauron companies that have wind farm projects in the Baltic Sea.
These projects are currently at the stage of submitting applications for permits for the construction of artificial islands.
In 2017, the Minister of Maritime Economy and Inland Navigation suspended administrative proceedings initiated on the basis of applications for permits for the construction and use of artificial islands, structures and devices in the Polish zone of the Baltic Sea.
The intention of the parties is to sell shares in special purpose vehicles and sign an investment agreement within six months.
Tauron and Ocean Winds undertook to operate on an exclusive basis in the scope of projects covered by cooperation during the term of the two-year contract.
The exclusive cooperation of the parties may be extended to additional areas, subject to the conclusion of the Share Purchase Agreement and investment agreement.
Tauron Polska Energia president Wojciech Ignacok said: “Offshore wind energy is an important element of the Polish and European energy sector transformation strategy.
“Also in our plans, offshore plays an important role in building zero-emission capacity after 2025.
“Due to its windiness and depth, the Baltic Sea is considered one of the most promising reservoirs for the development of offshore energy in Europe.”