Rymarz Zdort Maruta advised PGE Polska Grupa Energetyczna S.A. in finalising the Baltica 2 offshore wind farm project

We are pleased to announce that our law firm was the legal advisor supporting PGE Polska Grupa Energetyczna S.A. (“PGE”) in the implementation of a multi-phase investment project involving the construction of an offshore wind farm with a planned capacity of approximately 1.5 GW (“Baltica 2”). The scope of advice included agreements between shareholders, power sales agreements, other project agreements with related parties and corporate issues.

The Baltica 2 project is being carried out jointly with Ørsted Group entities under a joint venture formula, in which each partner holds an equal share. The Baltica 2 offshore wind farm is scheduled for commissioning in 2027. The total budget of the project is estimated at around PLN 30 billion.

In order to implement the Baltica 2 project in 2021, PGE entered into a joint venture agreement with the Danish company Ørsted, a leader in the global offshore wind market, and our law firm advised PGE in the process. The purpose of forming the JV was to implement an offshore program to build an offshore wind farm with a total capacity of about 2.5 GW by 2030, to be implemented in two stages. Phase I – Baltica Wind Power Plant-3 with a capacity of about 1 GW and Phase II – Baltica Wind Power Plant-2 with a capacity of about 1.5 GW.

On 29 January 2025, Baltica 2 and the respective entities of the PGE and Ørsted capital groups entered into a series of agreements related to the implementation of the offshore wind farm investment project. At the same time, the partners made a Final Investment Decision (FID) starting the construction phase of the Baltica 2 offshore wind farm.

“We are proud to be able to support PGE Polska Grupa Energetyczna in building a partnership with Ørsted, which after 4 years of this “marriage” has just lived to see its first “child” – an investment decision to start the construction of the Baltica 2 offshore wind farm, the largest such project in Poland at the moment”, says Marek Durski, partner heading the energy and natural resources practice at Rymarz Zdort Maruta.

Key team members involved in the project from Rymarz Zdort Maruta’s side included: Marek Durski, Dr. Marek Maciąg (partner, leader of the corporate and commercial law team) and Jakub Krzemień (partner in charge of infrastructure projects). The team also included: Łukasz Lech (counsel), Adrian Augustyniak (senior associate), Andrzej Granat (senior associate), Klaudia Kasztelewicz (senior associate), Barbara Gawin (associate) and Weronika Iskierska (associate) – representing the energy and natural resources practice, as well as Iwona Her (partner heading the competition practice), Marcin Serafin (partner heading the data protection and cyber security practices), Tomasz Bąkowski (senior associate, member of the real estate practice), Maksymilian Kaszubowski (associate) and Sebastian Stępiński (associate) – both members of the banking and finance practice.