Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Finance

Orsted, PGE finalise decision to invest in wind farm off Poland

Posted By Global Banking and Finance Review

Posted on January 29, 2025

Orsted, PGE finalise decision to invest in wind farm off Poland

HELSINKI (Reuters) - Poland's PGE and Denmark's Orsted have taken the final decision to build Baltica 2, a 1.5-gigawatt offshore wind farm on Poland's Northwestern coast, the companies said on Wednesday.

Both companies will own 50% of the farm which is expected to be fully commissioned in 2027, a joint statement read.

"All major component and vessel contracts for Baltica 2 have been signed," the statement said, adding that most of the project's capital expenditure was locked in.

Orsted and Poland's largest power group, state-controlled PGE, in 2021 decided to develop two offshore wind farms totalling 2.5 Gigawatts.

PGE has said it expects power from Baltic Sea wind farms to account for 40% of its electricity generation in 2040.

(Reporting by Essi Lehto; Editing by Alison Williams and Hugh Lawson)

Recommended for you

  • Anglo Platinum pays $856 million top up cash dividend before spinoff

  • Shein faces investor pressure to slash valuation to $30 billion ahead London IPO, Bloomberg News reports

  • Sound Sino-European ties are desired by the world, Chinese foreign ministry says