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Polish utility signs Ocean Winds agreement

By: James Bernthal-Hooker 30/12/2020 TAURON

General Windfarms

Polish utility TAURON has signed a major cooperation agreement with Ocean Winds, the joint venture of EDP Renewables and ENGIE. The signing comes after several months of negotiations.

Under the terms of the agreement, TAURON has acquired 50% of shares in Ocean Winds’ portfolio, including wind farm projects in the Baltic Sea. Ocean Winds in its turn will acquire 50% shares in TAURON’s wind farm projects in the Baltic Sea. Currently, the company is submitting applications for permits to construct artificial energy islands.

Ocean Winds is owned half by EDP Renewables and half by ENGIE. Its creation was announced back in July 2020. TAURON, meanwhile, intends to own over 1 GW of installed onshore wind and 300 MW oof solar by 2025. It acquired five wind farms in northern Poland last year.

“Offshore wind energy is an important element of the Polish and European energy sector transformation strategy”, said Wojciech Ignacok, President of the Management Board at TAURON. “In our plans, offshore [wind] plays an important role in building zero-emission capacity after 2025 […] the Baltic Sea is considered one of the most promising reservoirs for the development of offshore energy in Europe.”

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Polish utility signs Ocean Winds agreement

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