Equinor Completes Polish Offshore Wind Trifecta

Norway’s energy major Equinor has completed the acquisition of a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia.

The Bałtyk I offshore location license allows for development of a wind farm with a capacity up to 1560MW of which Equinor will hold 50%. The company will be the manager for the construction preparation and the potential construction and operational phases.

Equinor now has an interest in all three Bałtyk offshore wind development projects, MFW Bałtyk III, MFW Bałtyk II, and  MFW Bałtyk I.

”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,” said Jens Økland, Senior vice president for business development in New energy solutions in Equinor.

Back 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 1,440MW.

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 wind farm area is in the Baltic Sea in water depths of 25-35 meters, approximately 80 kilometers from the port of Łeba.

“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,” said Økland.

The two companies have a 50/50 joint venture and are working together to mature the Baltyk projects towards construction.

Equinor has also welcomed the recent progress in the development of a legal framework for offshore wind in Poland. Clearly defined targets for offshore wind, a robust and predictable framework that sets the right incentives and a streamlined permitting process will be key success factors to develop the offshore wind sector in Poland and to realize the Polish supply chain potential, the company said.