Polenergia, Green Genius plan JV for Lithuanian offshore wind

Wind turbines in the Baltic Sea. Author: Håkan Dahlström. License: Creative Commons, Attribution 2.0 Generic

January 4 (Renewables Now) - Polenergia SA (WSE:PEP) will form a joint venture (JV) with Lithuanian firm Modus Energy AB, operating under the Green Genius brand, for the development of offshore wind projects in the Lithuanian Baltic Sea.

The Polish company said on December 31 the parties have agreed key terms of the partnership.

Green Genius had granted Polenergia exclusive right to hold talks with respect to the JV till the end of 2021. The companies have now also agreed to extend the exclusive right period to February 15, 2022, so that they can complete the documentation for the creation of the JV.

In Poland, Polenergia is developing 3 GW of offshore wind projects, MFW Baltyk I, MFW Baltyk II and MFW Baltyk III, in partnership with Norwegian energy group Equinor ASA (OSE:EQNR).

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Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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