Poland’s PGE picks Denmark’s Ørsted for offshore wind farm talks

Conferences

Photo by TebNad/Shutterstock.com

Poland’s largest utility PGE said on Tuesday evening it has decided to start talks with Denmark’s Ørsted on the sale of a 50% stake in two offshore wind farm projects with combined capacity of 2.5 gigawatts (GW) which the company is developing in the Baltic Sea.

Photo by TebNad/Shutterstock.com

PGE is looking for an experienced partner to build the 1 GW Baltica 3 wind farm by 2026, and the 1.5 GW Baltica 2 wind farm by 2030, the company said in a market filing.

PGE chose Ørsted following talks with 13 interested partners. PGE currently generates about 90% of its electricity from lignite and hard coal, but rising carbon costs and the expected exhaustion of its lignite resources from 2030 have pushed it to develop offshore wind projects, reports S&P Global Platts, a provider of energy and commodities information.

ADVERTISEMENT

Gen Gov't Deficit to Reach 6.1% of GDP in 2022 - Varga Analysis

Gen Gov't Deficit to Reach 6.1% of GDP in 2022 - Varga

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

Completion of Metro Line M3 Renovation Delayed City

Completion of Metro Line M3 Renovation Delayed

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.