Polish state-owned utility TAURON has signed an agreement with the joint venture of EDP Renováveis and Engie to cooperate on offshore wind projects in the Baltic Sea.
Under the bilateral agreement, the plan is that TAURON acquires a 50% share in the joint venture, whose portfolio includes wind farm projects in the Baltic Sea, a spokesperson from the Polish company told Offshore WIND .
The joint venture will in return seek to acquire half of the shares in TAURON’s companies that have offshore wind projects which are currently at the stage of submitting applications for permits for the construction of artificial islands.
The deal has been concluded after several months of negotiations.
Last year, Tauron revealed it is planning to optimize investments and limit operations in the mining and heating segments to focus on renewable energy, including offshore wind.
The plan is to increase the share of low and zero-emission sources in the production mix by involving in the construction of offshore wind farms and investing in onshore wind and solar farms by 2025.
ENGIE and EDP Renováveis announced in July the creation of the Ocean Winds (OW) venture. Headquartered in Madrid, the joint venture acts as the exclusive investment vehicle in offshore wind for both companies.