Orlen expects to sign offshore wind farm financing agreements in September

Orlen is at a very advanced stage of talks regarding financing the construction of the first 1.2 GW offshore wind farm in the Baltic Sea and expects to sign contracts for financing the project in September at the latest, the company said.

“We are very advanced in terms of financing, we want to sign contracts in the coming days, at the latest in September,” said Orlen’s financial management executive director, Michał Perlik, during a press conference.

He admitted that the entities financing the investment will include, among others: Polish and foreign banks.

Executive director for capital investments, Robert Śleszyński, added that the closing of the financing will be tantamount to making the final investment decision.

August 11 Orlen announced that it had made a conditional investment decision to launch the construction phase of the offshore wind farm project in the Baltic Sea.

The PKN Orlen Group manages refineries in Poland, the Czech Republic and Lithuania, conducts retail operations in Central Europe, mining operations in Poland, Norway, Canada and Pakistan, as well as energy production, including renewable energy sources, and natural gas distribution. As part of building a multi-energy concern, the company finalized the acquisitions of Energa, Grupa Lotos and PGNiG. Its consolidated sales revenues reached PLN 277.56 billion in 2022. The company has been listed on the Warsaw Stock Exchange since 1999; is included in the WIG20 index.

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