The Management Board of Polenergia S.A. (the “Issuer”) notifies that on 18 July 2025 MFW Bałtyk II sp. z o.o. and MFW Bałtyk III sp. z o.o. project companies (“Project Companies“), in which the Issuer holds 50% of stock, developing, as part of a joint venture between the Issuer and Equinor Wind Power AS, projects for the construction of two offshore wind farms, i.e. the Bałtyk II and Bałtyk III offshore wind farms (the “Projects“), signed two annexes (the “Annexes“) to the agreements for the transportation and installation of turbine foundations and offshore transformer stations dated 2 July 2024 (the “Agreements“) concluded with Heerema Marine Contractors Nederland SE (the “Contractor“).
The Annexes implement a scheduled recalculation of the Contractor’s remuneration in connection with the determination of the final base scenario of the works performed by the Contractor. The recalculation was announced by the Issuer in Stock Exchange Report No. 35/2024.
As a result of the recalculation, the Contractor’s total remuneration under both agreement (i.e., for both Projects) is now estimated at about EUR 457 million, an increase of about EUR 67 million over the projections adopted at the stage of contracting the Contractor. The above revaluation of the Agreements, including the anticipated increase in the total value of the Agreements, were included in CAPEX capital expenditures at the stage of preparing budgets and development plans for the construction phase of the Projects, the approval of which was notified by the Issuer in Stock Exchange Report No. 29/2025. The Contractor’s final remuneration will depend on, among other things, current fuel prices and exchange rate fluctuations.
legal basis: Article 17 section 1 of the Regulation (EU) No. 596/2014 of the European Parliament and of the Council on market abuse and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC OJ EU (L. of 2014, no 173, page 1 as amended)..
Issuer’s Management Board
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