Equinor will be responsible for the construction preparation and the potential construction and operational phases of the project
Image: Equinor acquires 50% stake in Bałtyk I offshore wind project in Poland. Photo: courtesy of Equinor ASA.
Norwegian-based energy company Equinor has completed the acquisition of a 50% stake in Bałtyk I offshore wind project in Poland from Poland-based energy company, Polenergia for an undisclosed amount.
The agreement to acquire the stake in the offshore wind project was signed last year.
The location license of the project allows for the development of a wind farm with a capacity up to 1560MW, of which Equinor will own 50%.
Under the terms of the deal, the Norwegian energy company will be responsible for the construction preparation and the potential construction and operational phases of the project.
With the acquisition of Bałtyk I offshore wind project, the company now has an interest in all three of the Bałtyk offshore wind projects such as Bałtyk III, Bałtyk II, Bałtyk I.
Equinor business development senior vice president Jens Økland said: “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.”
“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.”
Baltyk 1 will be located in the Baltic Sea about 80km from the port of Łeba
Baltyk 1 will be located in the Baltic Sea about 80km from the port of Łeba, at water depths of 25-35m.
Equinor has acquired a 50% stake in Bałtyk II and III offshore wind development projects last year that have a combined capacity of 1,440 MW with the potential to power more than two million houses in Poland.
Equinor and Polenergia have a 50/50 joint venture and are working together to complete the Baltyk projects construction.