The funds obtained in this way are to be used primarily for: financing of offshore wind farms in the Baltic Sea. – This is a historic moment, Polenergy sails out into the open waters. Shareholders' decision about the possibility share issue for a huge amount of PLN 3.4 billion, it opens the possibility for our Group to enter a completely different league – commented the chairwoman of the supervisory board of Polenergia Dominika Kulczyk quoted in the press release.
Money for “green” projects
The company estimates that at offshore development 85-95% is expected to be delivered. freshly acquired capital. The rest will be allocated to onshore wind projects, solar farms and investments in electromobility. In addition to issuing shares, Polenergia wants to finance construction of windmills in the Baltic Sea using debt financing.
– The shareholders' decision shows the great faith of the market and investors in the potential of Polenergia and our offshore projects. The vote took place without a single objection, he said new president of the company, Jerzy Zań quoted in the press release.
Cooperation in the construction of three farms
Polenergia's partner in offshore investments is Norwegian concern Equinor. Companies want to implement three farms in the Baltic Sea. OWF Baltic I is the project with the largest capacity, 1,560 MW. It will be built 80 km from the coast. It will be built on an area of just over 128 square kilometers, at a depth of 25-35 m. IMF Baltic II it will have a capacity of 720 MW and will be located 37 km from the coast. The farm area is 122 sq km, at a depth of 23-41 m. IMF Baltic III it will also have a capacity of 720 MW, but will be located closer to the shore (22 km) and will have a slightly smaller area (119 sq km). At this point the sea is 25-39 m deep.
Changes in Polenergia
The decision to issue shares is the second important information from Polenergia this month. At the beginning of March, the company announced changes in the management board. Jerzy Zań became the president of the company, who in 2019-2023 served as vice-president of Bank Ochrony Środowiska, where he specialized in financing investments in renewable energy sources.
