Ørsted and PGE Polska Grupa Energetyczna formed a 50/50 joint venture for two offshore wind projects in the Baltic Sea.
The projects will have a total potential capacity of up to 2.5 GW.
Ørsted will subscribe for new shares representing 50% of the total share capital in PGE’s two offshore wind projects, Baltica 3 and Baltica 2.
Baltica 3 has a capacity of approximately 1 GW and Baltica 2 has a capacity of approximately 1.5 GW.
Subject to regulatory approval, the transaction is expected to close in Q1 2021.
