COMPANY IMPLEMENTING OFFSHORE WIND FARM PROJECT RECEIVES CONNECTION TERMS

The Management Board of Polenergia S.A. (“Issuer”) hereby reports that on 10 February 2021, MFW Bałtyk II Sp. z o.o.  (“Company”) where the Issuer holds 50% of shares, developing offshore wind farm project MFW Bałtyk II (“MFW Project”) received new terms of connection from Polskie Sieci Elektroenergetyczne S.A. (“Operator”) for the MFW Project to the transmission grid (“Terms”).

The received terms encompass a connection power of 720 MW, deemed ultimate for the MFW Project implemented by the Company. Simultaneously, issue of the Terms by the Operator is related to the fulfilment of the condition precedent contained in the declaration of MFW Bałtyk III Sp. z o.o. (“MFW Bałtyk III”), where the Issuer also holds 50% of shares, developing the offshore wind farm project MFW Bałtyk III, on consent for a decrease in the connection power covered by the connection contract concluded with the Operator from 1200 MW to 720 MW.

In consequence, the Company and MFW Bałtyk III are authorised to implement two projects of offshore wind farms with a capacity of 720 MW each, connected to the connection points, located in the existing power station Słupsk-Wierzbięcino. The above complies with the investment intention of the project companies and the Issuer, as well as allows for the ultimate mode of connection as part of the scheduled performance of the Bałtyk II and Bałtyk III MFW Projects.

The terms set out the investments on the side of the Company and the Operator, which will be necessary to ensure connection and evacuation of power from the MFW Project, as well as other terms of connection.

Legal basis: Art. 17(1) of Regulation of the European Parliament and Council (EU) No. 596/2014 on market abuse and repealing Directive 2003/6/EC of the European Parliament and Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (Journal of Laws of the European Union L of 2014, No. 173, p. 1 as amended).