Equinor has acquired a 50% stake in the offshore wind development project Bałtyk I in Poland from Polenergia.
This is the third offshore wind project owned 50/50 by Polenergia and Equinor, following the agreement between the two companies from May 2018, when Equinor acquired half of Bałtyk II and Bałtyk III offshore wind farms.
"We are very pleased to further deepen our presence in Poland and to work with Polenergia, which is an experienced energy company with an in-depth knowledge of the Polish energy market. This acquisition strengthens our presence in the Baltic Sea area giving opportunities for scale and synergies in a longer perspective,” said Jens Økland, Senior vice president for strategy and business development in New energy solutions in Equinor.
The Bałtyk III wind farm is expected to deliver first power in 2025, with Bałtyk II following suit in 2027.
The Bałtyk I project is still in an early stage, and the companies will form a 50/50 joint venture to further mature the project towards future auction and final investment decision (FID).
Equinor will manage the construction preparation, potential construction, as well as operational phases.
The license for Bałtyk I, located in the Baltic Sea some 81 kilometers from the port of Łeba, allows for the development of a wind farm with a capacity up to 1,560MW.