Acciona Energía Signs Its First International Joint-Venture As A Listed Company

Acciona EnergiaBeatrice offshore wind-farm

Acciona’s renewables division has been listed on the stock exchange for less than a month (its debut was July 1) and has already announced its first international deal. Acciona Energía and SSE Renewables have agreed to explore offshore wind opportunities in Poland, as the country seeks to progress the deployment of around 6GW of offshore wind energy by the end of the decade. For that purpose, both companies, which are already cooperating on the exploration of offshore wind opportunities in Spain and Portugal, have now signed a Memorandum of Understanding (MoU) in order to formalize a 50/50 joint venture for the Polish market.

Poland has set a target of generating at least 23% of its gross energy consumption from renewable sources by 2030, and at least 28.5% by 2040. The development of offshore wind energy is one of the key elements for Poland to achieve these goals. It has set ambitious targets of 5.9GW of offshore wind energy installed by 2030, and 11GW installed by 2040.

Currently, Poland’s Government is finalising the regulatory framework for awarding Offshore Location Licenses (OLL) for the allocation of development rights for offshore wind farms. Acciona Energía and SSE Renewables aim to jointly participate in the country’s awarding procedure, creating a solid alliance committed to the development of the offshore wind market in Poland.

Acciona Energía is very active in Poland’s renewable energy market, where it already owns and locally operates more than 100MW of onshore wind generation assets alongside a development pipeline of new projects.

SSE Renewables is leading the construction of more offshore wind energy than any other company in the world right now. This includes building the world’s largest offshore wind farm, the 3.6GW Dogger Bank Wind Farm in the North Sea, a joint venture with Equinor and Eni, which is part of the company’s wider 7GW development pipeline of in-construction and consented offshore wind projects.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.