- Press Releases
October 15 (Renewables Now) - Offshore wind major Ørsted A/S (CPH:ORSTED) and Polish energy producer ZE PAK SA (WSE:ZEP) on Thursday said they have teamed up to jointly take part in the upcoming auction for seabed leases in the Polish Baltic Sea.
The companies have signed a letter of intent and plan to form a 50/50 joint venture which will require a merger clearance.
If their joint participation in the lease auction is successful, they intend to bid together into Poland’s future offshore wind contract for difference (CfD) auctions planned for 2025 and 2027.
ZE PAK is currently shifting from coal to renewables and says offshore wind will be an important part of its transformation.
“The potential, achievements and experience of Ørsted in the production of clean energy are impressive and can undoubtedly support the energy transformation of both ZE PAK and the entire Polish energy sector,” commented Zygmunt Solorz, main shareholder and chairman of the supervisory board of ZE PAK.
Poland is looking to cut the share of coal in power generation from some 70% now to 11%-28 % by 2040, and to build 5.9 GW offshore wind by 2030 and 11 GW by 2040.
For Ørsted, this is a second offshore wind partnership in Poland. Together with Polish utility PGE Polska Grupa Energetyczna SA (WSE:PGE) it is developing the 2.5-GW Baltica Offshore Wind Farm which will be delivered in two stages -- Baltica 3 and Baltica 2.