ORLEN and KN establish cooperation in the field of offshore wind energy

The letter of intent sets out an agreement on the synergy and conditions for cooperation between the three parties in the development and implementation of an O&M strategy for wind farms in the Lithuanian part of the Baltic Sea.

In order to ensure the sustainable growth of KN, preparation for renewal of the company’s strategy is currently underway. It will focus a great deal on the transformation of KN’s activities with the purpose of adapting them to the new business environment and responding to the need for more sustainable operations in the future.

Offshore wind farms are bound to play a crucial role in the energy transition of Central Europe. For the ORLEN Group offshore wind energy is among the focus areas of its ORLEN2030 strategy, targeting PLN 47 billion of capital expenditure on advanced low- and zero-carbon generation assets. Through ORLEN Neptun I (a company responsible for offshore wind farms development within entire Group) ORLEN assumes being the leader of offshore wind farms in the Baltic Sea.

“In view of the changes in the energy sector globally, we are making every effort to find both additional opportunities to exploit our existing infrastructure and know-how, as well as alternatives for the new activities. We are also exploring new avenues of development and potential to create value in the wind energy sector. We have no doubt that wind farms in the Baltic Sea can be a promising source of clean energy”, says Rytis Valūnas, Chief Administrative and Corporate Governance Officer of KN, acting as CEO.

According to R. Valūnas, KN has been looking for partners in the field of wind energy for some time now, and the cooperation with ORLEN Group companies was a natural development, as the Group is a long-standing partner of the company in other key areas of KN’s business. This agreement extends the strategic partnership between KN and ORLEN to new horizons.

“We do believe that joining forces, exchanging our experience and expertise with “Klaipėdos Nafta” will contribute to strong and sustainable development of offshore wind farms in Lithuania and help to build energy security in our region”, says Anna Łukaszewska-Trzeciakowska, CEO of ORLEN Neptun I.

Initially, the O&M strategy for wind farms is foreseen to be developed for the possible operation of two wind farms in the Lithuanian part of the Baltic Sea, and if successful, the cooperation would expand to cover more projects. The strategy is expected to be ready by the middle of 2023.