Press release

30 Mar 2021

EY acted as the sole financial advisor to PKN ORLEN S.A. in the process of selecting the partner and establishing a joint venture for the offshore wind farm project

EY acted as the sole financial advisor to PKN ORLEN S.A. in the process of selecting the partner and establishing a joint venture with NP BALTIC WIND B.V., a subsidiary of Northland Power Inc., for the offshore wind farm project, with a maximum capacity of up to 1.2 GW located in the Polish exclusive economic zone in the Baltic Sea, realized by Baltic Power.

EY acted as the sole financial advisor to PKN ORLEN S.A. in the process of selecting the partner and establishing a joint venture with NP BALTIC WIND B.V., a subsidiary of Northland Power Inc., for the offshore wind farm project, with a maximum capacity of up to 1.2 GW located in the Polish exclusive economic zone in the Baltic Sea, realized by Baltic Power. 

The EY team was led by Bartłomiej Smolarek, Head of Strategy and Transactions in Poland and Jarosław Wajer, Power & Utilities CESA Leader and supported by Robert Kardaś, Maciej Markiewicz, Remigiusz Chlewicki, Marcin Drozdowski, Maciej Wasilewski and EY Global Offshore Wind team. 

Northland Power through its subsidiary NP BALTIC WIND B.V. will acquire 49% of shares in Baltic Power, the remaining 51% will stay in possession of PKN ORLEN S.A. The start of construction works is planned for 2023 and commercial operations for 2026.

About EY

EY is a leading global professional services firm in assurance, tax, strategy and transaction and consulting services. Worldwide, nearly 300,000 best professionals operating from more than 700 EY member firms based in more than 150 countries share EY values and commitment to deliver exceptional client service. Our mission is “Building A Better Working World”, as a better working world is a better working economy, society and ourselves. 

EY in Poland has about 4,000 professionals operating from 7 offices across Poland – Warsaw, Gdańsk, Katowice, Kraków, Łódź, Poznań, Wrocław and EY SSC. EY Poland has been announced the “Best and Most Successful Tax Advisory Services Firm” several times in the business media rankings, and has also topped the “Best Accounting Firm” lists.

Since 2003 EY Poland has been running the EY Entrepreneur Of The Year Poland programme, with the country winners representing Poland to vie for the EY World Entrepreneur Of The Year title in the finals held annually in Monte Carlo.

EY is also one of the best employers in Poland. The firm has been honoured with Uniwersum’s “Best Employer” title and the “Most Desirable Employer” in the “Employer Of The Year®” ranking by AIESEC. EY has also received the “Great Place to Work” awards in the category of firms with more than 500 employees.