On the 4th of August, the Polish Office of Competition and Consumer Protection received an application for the establishment of a joint venture between POLENERGIA S.A., based in Warsaw, and Modus Energy AB, based in Vilnius, Lithuania.
The joint activity will include the construction, development and operation of an offshore wind farm in Lithuania’s Baltic Sea area. The potential of the Lithuanian offshore market, according to BEMIP, is estimated at 4.5 GW while the Lithuanian Ministry of Energy indicates a theoretical projects’ potential at 3.35 GW. More details are available in the Quarterly Country Report Q2 2022 Lithuania: https://balticwind.eu/balticwind-eu-country-report-lithuania-q2-2022/
Polenergia is a Polish company listed on the Warsaw Stock Exchange and operating as a holding company for its operating subsidiaries active in the areas of power generation from conventional and renewable sources, as well as electricity distribution and trading. Polenergia Group is jointly controlled by Dominika Kulczyk and Brookfield Asset Management Inc., based in Canada.
Modus is a Lithuanian renewable energy company that invests in and develops biogas projects, as well as large-scale solar and B2B projects in Lithuania, also through subsidiaries in Italy, Spain, Ukraine, Belarus, Romania and Poland. Modus is part of the Modus Group controlled by Kestutis Martinkenas, a grouping of companies from various countries that focuses its activities mainly in the areas of renewable energy, mobility services, smart parking solutions and the automotive industry.
Source: Office of Competition and Consumer Protection
