Equinor has exercised an option to buy a 50 per cent stake in Poland’s Baltyk I offshore wind energy development from Polenergia.
The move follows an agreement signed in 2018 in which the Norwegian energy company acquired 50 per cent interests in the proposed Baltyk II and Baltyk III offshore wind farms.
The projects are in an early stage of development and Equinor will form a 50-50 joint venture with Polenergia to take them forward towards a final investment decision. Equinor says it would be the manager of the construction preparation and the potential construction and operational phases.
The Baltyk I offshore location licence allows for a development of a wind farm with a capacity up to 1560 MW. The wind farm area is located in the Baltic Sea in water depths of 25-35 m, approximately 81 km from the port of Leba.
“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.