Polenergia and Statoil intend to construct wind farms in the Baltic Sea

• Acquiring reputable investor is a breakthrough on the market and confirmation of the potential of Polenergia’s projects;
• Realization of offshore projects in the Baltic Sea will positively affect the Polish power system, guaranteeing a stable renewable source of energy;
• Polenergia has a signed grid connection agreement as well as two valid environmental decisions for the construction of offshore wind farms with the total capacity of 1,200 MW;

Having signed the promised agreement, Polenergia will acquire a partner who will substantially improve the perspectives of implementation of wind farms in the Baltic Sea. As one of the leaders of offshore investments in the world, Statoil group will introduce to the projects some new, proven and cost-optimized technologies as well as a new look at the Polish renewable energy sector from the position of a global player. The preliminary agreement provides for the transfer of 50 percent of shares in Polenergia’s subsidiaries, Polenergia Bałtyk II and Polenergia Bałtyk III, to Statoil. As a part of the signed agreement, an option was also granted for the purchase of 50 percent of shares in Polenergia Bałtyk I. The transaction requires a consent of the President of the Office of Competition and Consumer Protection in Poland.

Acquiring such a reputable partner confirms, on one hand, a positive assessment of the Polish market, and, on the other hand, the attractiveness of Polenergia’s projects, as well as expresses recognition for the quality of the works carried out by the company. Polenergia Bałtyk II and Polenergia Bałtyk III Wind Farms are a strategic investment that, when realized, will allow not only the company, but above all the Polish economy to obtain significant economic benefits. Expert calculations show that by constructing in the Baltic Sea wind power plants with the total capacity of 6,000 MW by 2030, the Polish GDP will gain PLN 60 billion, and the market will be increased by 2 additional 77 thousand new jobs. The domestic enterprises, directly or indirectly, will be able to apply for contracts for the supply of foundations, towers, cables and offshore transformer stations, provision of construction services, and potentially the production of rotors or delivery of ships

Polenergia is the first and only entity in Poland having two legally binding environmental decisions and the signed grid connection agreement, which enable it to work on the technical design of two offshore wind farms with the total capacity of up to 1,200 MW. Polenergia’s offshore wind farms in the Baltic Sea will be located north of the coastline, at the level of Smołdzino commune and Łeba municipal commune in Pomorskie voivodship. Thanks to very good wind conditions in the Baltic Sea, and larger and more cost efficient Wind Turbines, the offshore wind farms will provide stable and competitive renewable energy to the Polish market.

From January 2017 a wind measurement campaign is being carried out by means of a LIDAR system. Also a geological investigation of the of the seabed and soil conditions is in progress. Furthermore, there are efforts to obtain the environmental decision regarding the offshore transmission infrastructure. The first electricity from Polenergia Bałtyk III Offshore Wind Farm may flow to the Polish coast in 2025, whereas from Polenergia Bałtyk II Offshore Wind Farm – in 2027. The lifetime of both offshore wind farms is expected to be 25 years. The projects expect that there will be Wind Turbines available in the market in the mid-2020s that exceeds 10 MW capacity per turbine. They are going to be the largest wind power plants that have ever been constructed in Poland.

Polenergia’s advisor in the process of acquiring the investor was Credit Suisse.