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Q1 2021 Orsted A/S Earnings Call Transcript
Welcome to this Ãrsted Q1 2021 Earnings Call. (Operator Instructions)
Today's speakers are CEO, Mads Nipper; and CFO, Marianne Wiinholt. Speakers, please begin.
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Thank you. And good afternoon, everyone, and welcome to the Q1 earnings call. During the first quarter of 2021, we have made strong strategic progress across the entire company. And with this momentum, we achieved several milestones. Furthermore, we saw good operational performance during the quarter.
Starting out with Poland, we achieved a significant milestone when the Polish Energy Regulatory Office awarded the Baltica 2 and 3 projects contracts for difference. The 2 projects are part of our 50-50 partnership with Polish utility PGE and have a total potential capacity of up to 2.5 gigawatt.
The CfDs will have a maximum subsidy of PLN 319.6 per megawatt hour with the exact subsidy expected to be settled within 12 to 15 months as the CfD
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