PGE, Tauron and Enea to jointly build offshore wind farms in the Baltic Sea

18.11.2021
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PGE Polska Grupa Energetyczna, Tauron Polska Energia and Enea are joining forces in the area of offshore wind energy. Poland's largest energy companies are planning to develop four offshore wind projects in the Baltic Sea, setting the pace for the country's energy transition. PGE Polska Grupa Energetyczna 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. 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 - emphasises Deputy Prime Minister Jacek Sasin, Minister of State Assets.

PGE, Tauron and Enea, recognising the value of the offshore wind energy sector for the development of the Polish economy and for increasing Poland's energy security, signed a letter of intent on January 18th this year, expressing their will to cooperate on future offshore wind farm projects.

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. 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 - says Wojciech Dąbrowski, President of the Management Board of PGE Polska Grupa Energetyczna.

The motivation for 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 development of offshore wind power is key to achieving our goals of transforming TAURON's generation mix. We realize that without wind farms in the Baltic Sea, the replacement of coal sources will be virtually impossible - says Artur Michałowski, acting President of the Board of Tauron Polska Energia. - Due to its excellent conditions for wind energy development, the Baltic Sea has become a place of competition for the world's largest energy companies. The joint actions of Polish concerns improve our starting position in this battle and allow us to look at its outcome with optimism - adds president Michałowski.

Enea Group is firmly committed to the energy of the future, including offshore wind farms. Joint action and the joining of forces by the largest Polish energy groups in the development of offshore wind is the right direction. With the agreement signed, we are increasing our chances of investing in today's most efficient sources of renewable energy. The Baltic Sea offers us great opportunities for wind energy development. By cooperating we can better exploit this potential, thanks to which Poland has a chance to become a leader in the development of offshore projects in the Baltic Sea - emphasises Paweł Szczeszek, President of the Board of Enea.

The agreements signed are conditional agreements. The Office of Competition and Consumer Protection's consent is the only condition precedent for both preliminary agreements. The application to the President of the OCCP for the concentration of PGE with Enea was filed on 5 July 2021. The application to the President of the OCCP for PGE's concentration with Tauron Polska Energia was filed on 28 October 2021. Currently, both applications are being processed by the Office. 

PGE is currently developing projects with a total capacity of about 3.5 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 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.

Enea Group is one of the largest energy companies in Poland and is jointly responsible for the country's energy security. It 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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