Danish project operator rsted and Polish distribution company PGE Polska Grupa Energetyczna (PGE) have agreed to create a 50\/50 construction and operation joint venture (JV).<\/p>\n
The JV will oversee work on two offshore wind projects in the Baltic Sea.<\/p>\n
The two projects, namely Baltica 2 and 3, will have a total potential capacity of up to 2.5GW.<\/p>\n
Baltica 3 and Baltica 2 will have capacities of approximately 1GW and 1.5GW, respectively. The projects qualify for inclusion in Polands 2021 offshore wind allocation round. <\/p>\n
Baltica 3 is the most advanced of the two projects and will come online in 2026.<\/p>\n
A spokesperson for rsted said it will subscribe for new shares for 50% of the total share capital in PGEs two offshore wind projects.<\/p>\n
The subscription price for the newly issued shares in the two offshore wind facilities is said to be equivalent to $177m (zl657m).<\/p>\n
Completion of the deal is subject to regulatory approval and expected to take place in the first quarter of this year.<\/p>\n
rsted and PGE say they have established a framework that enables both parties to effectively integrate and leverage strengths and expertise from both sides.<\/p>\n
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rsted also aims to significantly expand its on-the-ground presence in Poland through the JV.<\/p>\n
rsted chief commercial officer and deputy group CEO Martin Neubert said: Poland is emerging as the front runner in offshore wind in the Baltic Sea and we are very excited to enter the Polish market with this joint venture with PGE.<\/p>\n
This transaction brings together rsteds unparalleled track record in developing and constructing large-scale offshore wind farms with PGEs extensive knowledge of and experience in the Polish energy market and its regulatory framework.<\/p>\n
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rsted and PGE joint venture to develop offshore wind projects in Poland - Power Technology<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Danish project operator rsted and Polish distribution company PGE Polska Grupa Energetyczna (PGE) have agreed to create a 50\/50 construction and operation joint venture (JV). The JV will oversee work on two offshore wind projects in the Baltic Sea. The two projects, namely Baltica 2 and 3, will have a total potential capacity of up to 2.5GW. Continue reading