Statoil Group’s acquisition of 50% of shares in two offshore projects in the Baltic Sea from Polenergia

Dentons has advised Statoil Group, a global oil, gas and energy company, in the acquisition of 50% of shares in two offshore projects from Polenergia.

The two offshore wind farm projects – Baltyk Srodkowy II and Baltyk Srodkowy III – have total planned capacity of 1200 MW. Located in the Baltic Sea, at distances of 27 km and 40 km respectively from the port of Leba, they constitute the largest and most advanced offshore wind energy projects in Poland.

Pending clearance by the Office for Competition and Consumer Protection, Statoil and Polenergia will set up a joint venture to expand the projects. Statoil will be the manager for the development and potential construction and operational phases. Statoil will also enjoy a call option for 50 per cent of shares in Polenergia Baltyk I.

Pawel Grabowski (picture), Partner in the M&A practice group, and Arkadiusz Krasnodebski, Head of Dentons’ Europe Energy and Natural Resources practice, supervised the project. The Dentons transaction team was headed by counsel Arkadiusz Wierzbicki of the M&A group. The interdisciplinary team of lawyers included: Ryszard Manteuffel, Agata Sokolowska, and Robert Semczuk of the M&A group; Michal Motylewski, Zbigniew Stasiak, Wojciech Boguslawski, Jan Dubinski, Patrycja Talarek and Adrian Król of the Energy and Natural Resources practice group. Partner Agnieszka Stefanowicz-Baranska, Maciej Marek and Kamil Bulakowski of the Competition group and Dawid Krakowiak of Environmental Protection group also advised on the transaction.

Involved fees earner: Pawe? Grabowski – Dentons; Arkadiusz Wierzbicki – Dentons; Ryszard Manteuffel – Dentons; Agata Soko?owska – Dentons; Robert Semczuk – Dentons; Arkadiusz Krasnod?bski – Dentons; Micha? Motylewski – Dentons; Zbigniew Stasiak – Dentons; Wojciech Bogus?awski – Dentons; Jan Dubi?ski – Dentons; Patrycja Talarek – Dentons; Agnieszka Stefanowicz-Bara?ska – Dentons; Maciej Marek – Dentons; Kamil Bu?akowski – Dentons; Dawid Krakowiak – Dentons;

Law Firms: Dentons;

Clients: Statoil;