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Poland’s largest energy companies to develop four offshore wind projects in the Baltic Sea

Poland’s largest energy sector group PGE has signed conditional agreements with Tauron Polska Energia and Enea for the sale of shares in four project companies whose task will be to obtain location permits for the construction of offshore farms in the Polish Exclusive Economic Zone in the Baltic Sea.   

“Offshore wind will drive Poland’s zero-carbon energy industry,” said Deputy Prime Minister Jacek Sasin, Minister of State Assets. “I am pleased that companies with State Treasury participation can cooperate on such an important project as the construction of offshore wind farms in the Baltic Sea. The success of the energy transition without these measures could be called into question. I am counting on the largest possible participation of Polish companies in this undertaking, so important from the point of view of the Polish economy.”

The motivation for the joint action is to achieve synergy effects when undertaking joint investments in the area of offshore wind energy. Joint actions between the Companies are justified, among others, by the high competition of the growing number of entities willing to obtain location permits and develop wind energy projects in the Polish Exclusive Economic Zone of the Baltic Sea.

“The intention of the letter signed in January 2021 with Tauron and Enea was to strengthen cooperation between the energy companies in the area of offshore wind energy,” explained Wojciech Dąbrowski, President of the Management Board of PGE. “Today, this intention is becoming a fact – together we will apply for the relevant permits and in subsequent steps develop four projects in the Baltic Sea – three together with Enea and one in cooperation with Tauron. Acquiring new locations in the Baltic Sea and joint development of offshore wind energy will accelerate the pace of Poland’s energy transition.”

The agreements signed are conditional agreements. The Office of Competition and Consumer Protection’s consent is the only condition precedent for both preliminary agreements.

PGE is currently developing projects with a total capacity of about 3.5 gigawatts (GW), while the PGE Strategy, published in autumn 2020, defined the long-term vision of the PGE Group’s development in the area of offshore energy as at least 6.5 GW by 2040. The achievement of this ambition will depend on the availability of further location areas and the acquisition of the relevant location permits, hence the importance of the signed agreement and the cooperation of the largest Polish energy companies in this area. At that time, according to government assumptions included in PEP2040, offshore wind farms in the Polish Baltic Sea zone will have a capacity of 8-11 GW.

TAURON is also interested in significant participation in the area of direct investments related to the construction and operation of offshore wind farms, as well as investments supporting the development of offshore wind energy. The agreement on the joint implementation of the SHPP project with PGE is an important element in building the TAURON Group’s position on the Polish offshore wind market. The TAURON Group wants to have offshore wind farms in the Baltic Sea with a capacity of 1 GW in 2030. Finally, Enea Group supplies energy to over 2.7 million customers. It is the vice-leader of the Polish electricity market in terms of electricity generation. The Group manages the full value chain in the electricity market: from fuel, through electricity generation, to distribution, sales and customer service. Enea actively participates in the transition of the energy sector and develops renewable energy sources.

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