EDF Renewables, Budimex partner to invest in offshore wind in Poland

EDF Group subsidiary EDF Renewables UK Ltd Renewables has inked an agreement with Budimex to make an investment in offshore wind farm development in Poland. On a 50-50 basis, the two companies will focus on the country’s second phase of offshore development. In the second phase, EDF Renewables UK Ltd Renewables and Budimex identified 11 new sites for offshore wind farm development in the Polish Baltic Sea region. The 11 identified sites are estimated to total 11 GW of capacity. Offshore wind farm construction would help Poland’s energy transition and provide a new energy source in the country, while also reducing the country’s reliance on coal for power generation.

Budimex has evolved to become Poland’s largest general contractor for infrastructure projects. The company is a subsidiary of Ferrovial, a Spanish engineering and infrastructure company. EDF Renewables UK Ltd Renewables has already filed several seabed permit applications in the Baltic Sea for the development of offshore wind projects. The partnership aims to leverage both firms’ strengths and acquire location permits through EDF Renewables UK Ltd Renewables’ applications. Budimex intends to expand its commercial profile while becoming more involved in the country’s energy transition.

In July 2022, the French government stated its intention to buy out the company’s remaining stakes in order to fully control the energy utility company EDF. The decision was made following the announcement of plans to nationalise the indebted corporation earlier in July 2022 by the French Prime Minister. The French finance ministry announced in a statement that it has made an offer to purchase the final 16 per cent stake in EDF for $9.85 billion in total or $12.26 for a share. Currently, 84 per cent of the business is owned by the government.