Vestas wins auction for ST3 Offshore -
Vestas wins auction for ST3 Offshore
Date of publication: 20.03.2023

The sixth auction was successful!

February 10. another auction for the sale of the enterprise was announced. It was the sixth and last attempt to find a buyer for all the company's assets due to the urgent need to obtain funds to satisfy creditors.

Today, the receiver of ST3, legal adviser Natalia Leszczyńska, informed that as a result of the auction, the amount of PLN 170,500,002 was offered, which was the highest price offered, so the receiver lowered it. Thus, the offer submitted by RPGZ XXVIII sp. z o.o. was selected. with its registered office in Warsaw, i.e. Vestas special purpose vehicle.

ST3 Offshore produced steel foundations for offshore wind farms, on which masts and turbines are mounted. In 2018, it became the largest supplier in Europe. Unfortunately, the local court officially declared it bankrupt at the end of March 2020. At that time, the Ministry of State Assets informed that the company's situation was a consequence of losses incurred on the first unprofitable contracts concluded in 2015-2016, when the majority shareholder was a German investor.

The company was first put up for sale in February 2021.

Vestas is a leader among wind turbine manufacturers. As the first company in history, it has achieved over 100 GW of wind, and currently has over 145 GW of installed turbines globally. It employs 29,000 people worldwide.

In October, Vestas announced plans to build a gondola and wind hub factory in Szczecin. The industry welcomed the announcement, which can strengthen the industrial potential of coastal areas in Poland. According to the announcements, the factory is to generate 700 direct jobs and several thousand indirect jobs. The plant is to be built in the Skolwin district, bordering Police.

The Polish investor PKN Orlen will build a parallel port for the assembly of offshore wind turbines in Świnoujście. Both investments will support the Baltic Power offshore wind farm project with a capacity of 1.2 GW in the Baltic Sea. Vestas will supply, install and commission 76 wind turbines for the project, as well as supporting the design of the foundations.

Gondolas for the V236-15 MW model will be produced in Szczecin. The components will also be used in global supply chains. The new Vestas factory is scheduled to start operating in the second half of 2024.

The company may need much more space for its production and logistics facilities, which undoubtedly makes the ST3 a valuable asset.

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