Polska Grupa Energetyczna (PGE) has selected French investment bank Societe Generale as financial advisor for the construction of the 250MW Baltica 2 and 3 offshore wind farms off Poland.
The bank will be PGE’s advisor in obtaining financing for the construction of the offshore wind farms in the Baltic Sea.
PGE said the procedure for selecting an advisor was conducted on the basis of the Public Procurement Law in the form of sectoral negotiations with publication.
It added that the company received five applications for admission to the procedure, and finally offers from three contractors.
The best bid of PLN8.5m (€1.86m) net was submitted by Societe Generale.
The contract will be concluded after the expiry of a 10-day deadline for appeal.
PGE added that it will finance its part of the expenses related to the construction of the Baltica 2 and 3 with equity and by obtaining external debt.
It is developing the projects in partnership with Orsted.
PGE management board president Wojciech Dąbrowski said: “The selection of a financial advisor for the Baltica 2 and 3 offshore wind farm construction project in the Baltic Sea is another step in the implementation of the PGE Group’s offshore programme.
“Cooperation with an institution with an established position on the European financial market, such as Societe Generale, proves that PGE, being the largest electricity company in Poland, enjoys the trust of financial institutions.”