State-controlled Polish utility PGE has launched a takeover bid for privately-owned counterpart Polenergia, in a deal that could create a major new force in Poland’s fledgling offshore wind sector.

PGE is offering 740m zloty ($202m) for 100% of Warsaw-listed Polenergia, saying the acquisition would allow it to boost its wind portfolio and drive down the carbon-intensity of its operations. The offer period for Polenergia’s shares runs until 20 September.