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US giant to invest in renewables in Poland

18.01.2020 16:10
Poland's state-owned Industrial Development Agency (ARP) has signed a letter of intent with US giant General Electric on investment in the area of renewable energy.
Image by JuergenPM from Pixabay
Image by JuergenPM from Pixabay Pixabay License

The partnership aims at boosting Poland’s competence in energy generation from renewables, with a premium put on developing the country’s offshore wind farms and photovoltaic projects, the ARP said  in a press release on Friday.  

"Offshore is a strategic sector for the Polish economy, not only in the context of the European Green Deal and the growing share of renewables in the energy mix but also in view of the domestic manufacturing potential," ARP CEO Cezariusz Lesisz was quoted as saying.

Poland gives a special focus to offshore energy where investments are estimated at PLN 100 billion (EUR 23.4 bln), according to the country’s Development Ministry.

General Electric has experience in renewable energy projects and its Haliade-X offshore wind turbine is counted among world’s most powerful equipment.

GE Renewable Energy Vice President Fabrice Kermorgant earlier said that an offshore turbine is only a small component, adding that everything else - including ports, shipyards and manufacturing plants - will be developed on site, in Poland.

Source: PAP

(mo)