Ørsted, a Danish multinational power company, and Zespól Elektrowni Patnów - Adamów - Konin, poland's largest privately owned energy producer, agreed to form a joint venture. Financial terms were not disclosed. The joint venture is to participate in the upcoming auction for seabed leases for offshore wind farm projects in the Polish part of the Baltic Sea. If successful in the auction, the partners intend to realise the offshore wind farm projects together and to jointly bid in Poland's future offshore wind auctions for remuneration for the generated electricity through so-called contracts-for-difference.