Equinor to plunge deeper into Polish offshore wind market

Equinor Polish wind project map.
Equinor Polish wind project map.

Norwegian energy giant Equinor has announced today that it is to deepen its interest in the Polish offshore wind market.

The firm said it will “exercise and option” to acquire a 50% interest in the Baltyk I offshore wind project from Polenergia.

Equinor said the transaction is a follow-up of the agreement between the two companies which came into force in May 2018

The deal follows the Norweigian firms 50% interest acquisition of the Bałtyk II and Bałtyk II developments.

Jens Okland, senior vice president for strategy and business development in new energy solutions at Equinor, 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 Sea area giving opportunities for scale and synergies in a longer perspective.”

The 50/50 joint venture with Polenergia will see Equinor manage the construction phase should the project reach auction and final investment decision (FID).

The wind farm area is located in the Baltic Sea in water depths of 25-35 meters, approximately 50 miles from the port of Łeba.