Tuesday, September 27, 2022

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KN and ORLEN Group to cooperate in the offshore wind energy industry

Klaipėdos Nafta (KN), the operator of oil and liquefied natural gas (LNG) terminals in Lithuania and the companies of the largest Polish oil group ORLEN, ORLEN Neptun I and Energa Wytwarzanie signed a letter of intent on the possibility of cooperation in the provision of operation and maintenance (O&M) services for wind farms in the Baltic Sea.

Initially, the O&M strategy for wind farms is foreseen to be developed for the possible operation of two wind farms in the Lithuanian part of the Baltic Sea and if successful, the cooperation would expand to cover more projects. The strategy is expected to be ready by the middle of 2023.

“In view of the changes in the energy sector globally, we are making every effort to find both additional opportunities to exploit our existing infrastructure and know-how, as well as alternatives for the new activities,” said Rytis Valūnas, Chief Administrative and Corporate Governance Officer of KN, acting as CEO. “We are also exploring new avenues of development and the potential to create value in the wind energy sector. We have no doubt that wind farms in the Baltic Sea can be a promising source of clean energy.”

In order to ensure the sustainable growth of KN, preparation for the renewal of the company’s strategy is currently underway. It will focus a great deal on the transformation of KN’s activities with the purpose of adapting them to the new business environment and responding to the need for more sustainable operations in the future. On the other hand, for the ORLEN Group, offshore wind energy is already among the focus areas of its ORLEN2030 strategy.

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