Statoil to acquire stake in two Polish offshore wind farms

Norway-based energy company Statoil has signed an agreement with Polish electricity distribution company Polenergia to acquire a 50% stake in two offshore wind projects in Poland.
The two projects, Bałtyk Środkowy II (BSII) and Bałtyk Środkowy III (BSIII), reportedly have a potential capacity of 1,200MW, which is enough to power two million homes in Poland. Both are in the early stages of development.
Completion of the deal is subject to the consent of the President of the Office of Competition and Consumer Protection in Poland.
Additionally, the Norwegian energy firm is planning to form a 50/50 joint venture (JV) with Polenergia to further develop BSII and BSIII wind projects.
Under the JV, Statoil will be responsible for the development, construction and operational phases.
Statoil New Energy Solutions executive vice-president Irene Rummelhoff said: “We are very pleased to have entered into a partnership with Polenergia, which is an experienced energy company with a growing renewable portfolio and in-depth knowledge of the Polish electricity market.


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“Statoil has an ambition to grow significantly within renewable energy investing up to €10bn in profitable renewable energy towards 2030, and this acquisition strengthens our presence in the Baltic Sea area giving opportunities for scale and synergies in a longer perspective.”
The BSII and BSIII wind farms are being developed in the Baltic Sea nearly 27km and 40km from the port of Łeba.
Statoil is currently working with EON to develop the Arkona offshore wind farm in the German part of the Baltic Sea.
Rummelhoff further added: “We are entering a market with growth potential through two of the most advanced offshore wind developments in Poland.
“The country is well-placed to develop a strong offshore wind industry that would create jobs and value in one of the most dynamic parts of the European markets.
“Following a dramatic reduction in cost for offshore wind, we are looking forward to working with our new partner [Polenergia], the Polish authorities and the Polish supply chain to advance offshore wind as a competitive source of energy and industry.”


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