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Dentons Advises Equinor Group on Agreement to Purchase Stake in Third Offshore Wind Farm from Polenergia

Dentons Advises Equinor Group on Agreement to Purchase Stake in Third Offshore Wind Farm from Polenergia

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Dentons has advised global renewable energy giant the Equinor Group (formerly Statoil), on the conclusion of a preliminary agreement for the purchase of a 50 percent stake in Polenergia Baltyk I, the company developing the Baltyk I offshore wind farm, from Polenergia SA. Clifford Chance advised Polenegria on the deal.

The Baltyk windfarm has a target capacity of up to 1,560 MW, and it is located more than 80 km off the port town of Leba.

The transaction involves the acquisition of 50 percent of shares in Polenergia Baltyk I under an option granted to Equinor in May 2018, and is subject to, among other things, the approval by the Chairperson of the Office for Competition and Consumer Protection. Once the approval is granted, Equinor and Polenergia will form a joint venture to proceed with the project.

The contemplated investment would be the third offshore project to be developed jointly by the Equinor Group and Polenergia, and both were advised by Dentons and Clifford Chance on the previous deals as well as reported by CEE Legal Matters on March 26, 2018.

The Dentons team overseen by Partners Pawel Grabowski and Arkadiusz Krasnodebski and headed by Counsel Arkadiusz Wierzbicki included Partner Agnieszka Stefanowicz-Baranska, Counsels Michal Motylewski, Zbigniew Stasiak, and Wojciech Boguslawski, Senior Associates Patrycja Talarek and Maciej Marek, and Associates Agata Sokolowska, Robert Semczuk, and Dawid Krakowiak. 

The Clifford Chance team was led by Counsel Pawel Puacz and included Senior Associates Jaroslaw Gajda and Kamil Sarnecki and Associate Weronika Miszewska.

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