Wednesday, February 24, 2021

Huge wind farm project, up to PLN 35B ($10B) in the game!


 Polish Energy Group (PGE) has submitted a project to build offshore wind farms worth PLN 35 billion to the National Reconstruction Plan (KPO). The KPO is to include projects financed by the European Reconstruction Facility which provides EUR 750 billion in aid to the Member States. Poland is to be the fourth largest beneficiary of this program. The money must be allocated to specific investments in key areas for the EU. This includes infrastructure, transport, energy, and the environment.

PGE in cooperation with Danish Orsteda plans two projects, Baltica 2 and Baltica 3, with a total capacity of 2.5 GW.

"We negotiated with Orsted with surgical precision. We have the best possible contract with the most experienced company in the field of offshore wind farms in the world. For 50 percent of shares in assets valued at over PLN 100 million, we received PLN 657 million."

Baltica 2 and 3 could start producing electricity in 2026. 


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