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    Ferrovial SA - Budimex and EDF Renewables is signing a strategic equity partnership to realize offshore wind energy investments in Polish maritime areas


    August 4, 2022 - Swiss Equity Markets (Web Disclosure) via PUBT

     

      Budimex and EDF Renewables announce the signing of a Memorandum of Understanding (MoU) to partner on a 50/50 basis and to jointly commit to realizing investments in offshore wind farms as part of the second phase of offshore development in Poland.

      Poland is building it's own potential which increase energy security and it will let to decarbonize polish future energy mix. Polish government is striving to increase the share of renewable energy by unlocking the huge potential of the Baltic Sea for offshore wind farms.

      As part of the second phase of offshore development, 11 new sites have been made available for the construction of offshore wind farms in the Polish part of the Baltic Sea. The capacity of the planned investments in the second phase is expected to reach 11 GW. Offshore development is one of the cornerstones of Poland's energy transition. Offshore wind farms are expected to provide a new energy source in our country and significantly reduce the share of coal in power generation.

      EDF Renewables has extensive experience in the RES area and notably in the design, preparation, financing, construction, and operation of renewable energy projects, including offshore wind energy. The company is also one of the leaders in the offshore industry.

      EDF Renewables has submitted several seabed permit applications for new potential areas of offshore wind farms in the Baltic Sea. The aim of the cooperation between Budimex and EDF Renewables in Poland is to leverage the strengths of both companies and obtain abovementioned location permits under the applications submitted by EDF Renewables.

      Budimex, as the largest general contractor of infrastructure projects in Poland, will bring to the joint venture its extensive experience gained during the implementation of various investments in Poland, its extensive knowledge and experience in the development of RE assets worldwide through the capabilities gained out of the creation of the new energy infrastructures business unit in Ferrovial and a vast network of contractors, partners, and entities cooperating with the Budimex Group. Budimex wants to take an active part in the country's energy transition and continue to expand its business profile with investments in RES.

      The energy transition is happening here and now. There is enormous potential in it, and we want to be an active player in the RES market. Our goal is for us to be energy self-sufficient by 2026. Thanks to the commitment of our teams and the introduction of innovative solutions, all energy can come from renewable sources. - said Artur Popko, President of the Budimex Group.

      Disclaimer

      Ferrovial SA published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 11:57:02 UTC.

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