Spanish power utility Iberdrola SA (BME:IBE) and Polish sector player Enea SA (WSE:ENA) have signed a letter of intent (LOI) to jointly develop up to 3.3 GW of offshore wind projects in the Baltic Sea.
The pact marks the start of negotiations on the potential investment in the Polish Exclusive Economic Zone of the Baltic Sea, Enea said on Wednesday. The talks, to be held on an exclusive basis, will aim to assess the possibility of the partners’ joint participation in the capital investment, development, construction and operation of the projects.
Poznan-based Enea will have a minority share in the potential investment projects. The energy group did not specify its planned level of involvement and said further details on the scope of cooperation will be determined in the next stages of the negotiations.
Through the cooperation with Iberdrola, Enea expects to acquire experience and build competence in the development of offshore wind farm projects. Its Spanish peer has installed 964 MW of offshore wind parks and has an ambitious plan to add 1,800 MW more in the next four years.
