Norwegian state-run energy company Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Bałtyk I in the Baltic Sea (Poland) from Polish utility Polenergia.
The Bałtyk I license allows for the development of a wind park with a capacity up to 1,560 MW. The project is still in an early stage and Equinor and Polenergia will set up a 50/50 joint venture (JV) to further develop the park towards future auction and final investment decision (FID). Equinor will be responsible for the project's construction preparation, potential construction, as well as operational phases.
This transaction is the follow-up to the agreement between the two companies that was signed in May 2018, according to which Equinor purchased a 50% stake in the Bałtyk Środkowy II (Bałtyk II) and Bałtyk Środkowy III (Bałtyk III) offshore wind projects, which will each have a capacity of 600 MW (total capacity of 1,200 MW). The Bałtyk III wind farm is expected to deliver first power in 2025, with Bałtyk II following in 2027.
Source: Equinor
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