PGE and Ørsted formed a joint venture in a €147m deal.

Polska Grupa Energetyczna, a state-owned public power company and the largest power producing company in Poland, and Ørsted, a Danish multinational power company, formed a joint venture for the development, construction and operation of two offshore wind projects in the Baltic Sea in a €147m deal. "Poland is emerging as the front runner in offshore wind in the Baltic Sea and we are very excited to enter the Polish market with this joint venture with PGE. This transaction brings together Ørsted’s unparalleled track-record in developing and constructing large-scale offshore wind farms with PGE’s extensive knowledge of and experience in the Polish energy market and its regulatory framework. Our new joint venture is strongly committed to delivering on the Polish Government’s ambitious plans for the deployment of offshore wind," Martin Neubert, Ørsted Chief Commercial Officer and Deputy Group CEO.