B2RLaw has advised Danish wind turbine manufacturer Vestas on its acquisition of the ST3 Offshore factory in Szczecin – which had gone bankrupt in 2020 – during the sixth tender for its sale.
According to B2RLaw, the transaction required ministerial approval. The assets will be used in the offshore wind farm component production chain. "The factory will create hundreds of jobs in Szczecin and several thousand more indirectly. It is expected to meet domestic and global demand for offshore wind energy and thus play a key role in achieving Poland’s energy transition goals, aiming to maximize its offshore wind energy potential with a total capacity of up to 18 gigawatts by 2040."
This new acquisition was announced a year after B2RLaw had advised Vestas on the establishment of its own factory for offshore wind turbines in Szczecin (as reported by CEE Legal Matters on October 27, 2022). As a result, the initial installed capacity projections made in 2022 were updated in 2023 from 11 to 18 gigawatts.
The B2RLaw team was led by Partner Andrzej Zajac and included Partner Bogdan Duda and Associate Konrad Czernecki.
