PGE wins another offshore wind lease in Polish Baltic waters

Polish utility PGE (WSE:PGE) said on Wednesday that its unit Elektrownia Wiatrowa Baltica 1 ranked first in the auction for a wind farm site in the Baltic Sea, following a recent win for another area.

A permit to develop Area 60.E.3, which is adjacent to the group's Baltica 1 project, gives the company an opportunity to use synergy effects in the development of both projects in the future, CEO Wojciech Dabrowski commented.

Earlier in January, PGE Baltica got the highest score in the competitive process for a permit to develop Area 43.E.1 in the Baltic Sea. It is already working jointly with Denmark’s Ørsted A/S (CPH:ORSTED) on the 2.5-GW Baltica offshore wind farm, which will be delivered in several stages -- Baltica 2 and Baltka 3 by 2030, and Baltica 1 afterward.

Each new location permit brings the company closer to achieving its goal to grow its offshore wind capacity in the Baltic Sea to 6.5 GW by 2040, the CEO added.

This was the third auction for areas in Polish waters since the beginning of January, of which the first ended without a winner. Five procedures for offshore wind farms are planned for the turn of 2022 and 2023 and another six in May 2023, infrastructure deputy minister Marek Grobarczyk told Pap Biznes in November.

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