Polenergia and Green Genius joined forces for the first wind farm in the Baltic Sea
A Polish company Polenergia and a Lithuanian company Green Genius joined their forces to create a joint venture and participate in the auction for Lithuania’s first wind farm in the Baltic Sea to be held in 2023. The 700 MW offshore wind park will be a powerful instrument to ensure Lithuania’s energy independence.
It was an extremely valuable experience for Ellex in Lithuania team: partner Rūta Armonė, senior associates Aleksandr Asovskij and Edvinas Beikauskas, associate Augustinas Mačionis. Our M&A and regulatory teams worked with Maciej Grzesiewski and dr Marta Laskowicka from Polenergia and the White&Case Warsaw team to accommodate the interests and risks of both parties.
Our feelings are best described by these powerful words said by Michał Michalski, Ph.D., the President of the Management Board of Polenergia:
“This is a historic moment, as everything around us is happening in the shadow of the war on our eastern border, and our hearts remain with those who are suffering. But now, as never before, we see the need to show the world that strengthening the economies of this part of Europe is a historical necessity. In this way, we want to emphasize the strategic importance of cross-border cooperation and prove that wind energy is no longer alternative energy, but traditional energy that will build energy independence.”