Poland's Tauron eyes offshore wind JV with Engie, EDPR

Polish energy company Tauron Polska Energia SA (WSE:TPE) has teamed up with a joint venture (JV) between Portugal's EDP Renovaveis SA (ELI:EDPR) and French peer Engie SA (EPA:ENGI) to build together wind parks in the Baltic Sea.

Tauron said on Tuesday it has signed a cooperation agreement that will see it take a 50% stake in a portfolio of offshore wind projects in the Baltic Sea. In return, the EDPR-Engie JV -- Ocean Winds -- will seek to buy 50% in the Polish state-owned group’s subsidiaries involved in similar projects.

According to Tauron, it currently has schemes involving the construction of artificial energy islands in the Baltic Sea. The projects are ready to enter the permitting process.

An investment agreement is due to be signed within six months. Tauron noted that the exclusive cooperation with Ocean Winds may be also expanded to other fields.

Last year, Tauron unveiled plans to significantly increase the share of low- and zero-emission sources in its installed capacity by investing in onshore wind, solar and offshore wind farm projects. By 2025, it will aim to have over 1 GW of onshore wind turbines in operation, up from 381 MW now.

Tauron’s goal is to raise the share of low- and zero-emission sources in its portfolio to over 65% by 2030.

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