Equinor has exercised an option to acquire a 50% interest in the Bałtyk I offshore wind development in the Baltic from Polish energy company Polenergia.
The transaction is a follow-up to an agreement between the two companies which came into force in May 2018 which saw Equinor acquire a 50% interest in Bałtyk II and Bałtyk III.
Equinor senior vice president for strategy and business development, new energy solutions, Jens Økland, said “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, giving opportunities for scale and synergies in the longer perspective.”
The project is in an early stage and the companies will form a 50/50 joint venture to further mature it towards future auction and a final investment decision (FID), with Equinor managing construction preparation and the potential construction and operational phases.
The Bałtyk I offshore licence allows for the development of a windfarm with a capacity of up to 1,560 MW, of which Equinor will hold 50%.
The windfarm is located in the Baltic in water depths of 25-35 m approximately 81 km from the port of Łeba.
The Polish government has recognised the opportunity offered by offshore wind and included it in its recently published draft energy policy. It also announced ambitious plans to develop 8 GW of offshore wind energy by 2035.
“Equinor views clearly communicated targets along with a robust regulatory framework as key to the development of offshore wind sector in Poland and realising Polish supply chain potential,” the company said.
The Offshore Wind Journal Conference in London on 5 February 2019 will address key issues including global market developments, increasing turbine sizes, floating offshore wind and industry regulations.