Norton Rose Fulbright has advised PGE Polska Grupa Energetyczna subsidiary PGE Energia Odnawialna on its recent renewable energy sector acquisition of three onshore wind farms in Poland with a total capacity of 84.2 megawatts – Scieki, Jozwin, and Radzyn.
According to Norton Rose, “the transaction will result in a 12% increase of PGE Group capacities in onshore technology, which will amount to more than 770 megawatts. The completion of the acquisition will sustain the leading position of the PGE Group in the renewable generation market in Poland with a market share of 11% of installed capacities in onshore wind farms in Poland.” PGE Polska Grupa Energetyczna is a state-owned public electricity company.
According to the firm, the transaction is “an element of the implementation of PGE Group’s strategy until 2030, which assumes that in 2030 the PGE Group will operate 1.7 gigawatts of onshore wind farm capacities, to also be achieved through acquisitions. The long-term strategic goal is carbon neutrality of the PGE Group by 2050 and providing PGE customers with 100% green energy.”
The Norton Rose team included Partner Agnieszka Braciszewska, Counsels Artur Jonczyk and Tomasz Rogalski, Senior Associate Cezary Zawislak, Consultant Piotr Milczarek, Associate Maciej Dubiel, and Lawyers Jan Nowjalis, Bartosz Odziemkowski, Martyna Korzeniewska, and Jakub Chmiel.
Norton Rose was unable to provide further information on the deal.