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Equinor bolsters Polish position

By: Tom Russell 10/12/2019 Equinor

General Windfarms

Equinor has completed the acquisition of a 50% interest in the Bałtyk I offshore wind development project off the coast of Poland. The company now has an interest in three Bałtyk offshore wind development projects, Bałtyk III, Bałtyk II and Bałtyk I, alongside Polish energy group Polenergia.

In 2018 Equinor acquired a 50% interest in the offshore wind development projects Bałtyk II and Bałtyk III which have a combined planned capacity of 1,440 MW with the potential to power more than two million Polish households. Later that year, Equinor decided to exercise an option to acquire a 50% interest in the Bałtyk I offshore wind development project, and this transaction is now concluded.

The Bałtyk I offshore location license allows for a development of a wind farm with a capacity up to 1,560 MW, of which Equinor will hold 50%. Equinor will be the manager for the construction preparation and the potential construction and operational phases. The wind farm area is located in the Baltic Sea in water depths of 25-35 meters, approximately 80 kilometers from the port of Łeba.

"The acquisition of Baltyk I strengthens our presence in the Baltic Sea area. With interest in all three - Baltyk I, II and III projects, we have the opportunity to build scale and value in what we see as an important energy region,” says Jens Økland, Senior vice president for business development in New energy solutions in Equinor.

Equinor and Polenergia have established a 50/50 joint venture and are working together to mature the Baltyk projects towards construction.

“Poland is an important market for Equinor and we are pleased to continue our partnership with Polenergia, which is an experienced energy company with an in-depth knowledge of the Polish energy market,” says Økland.

Although there are currently no offshore wind farms operating in Poland, around 5,600 MW is planned to be underway by 2030. A number of developers have recently positioned themselves for the Polish market.

The Polish Ministry of Energy is in the process of issuing a bill to support the development of offshore wind energy and is progressing with public consultations and inter-ministerial arrangements.

For more information on offshore wind farms worldwide, click here. Alternatively, you can view offshore wind farms and their associated infrastructure worldwide using 4C Offshore's Interactive Map.

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Equinor bolsters Polish position

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