Equinor and Polenergia greenlight final investment decision for Baltic 2 and 3 offshore wind farms

The total investment value is estimated at approximately PLN 27 billion (excluding financing costs), making Baltic 2 and 3 among the largest infrastructure ventures in Poland’s history. The projects are set to play a critical role in Poland’s energy transition, boosting energy security and independence while supporting the country’s decarbonisation goals.

– The world belongs to the defiant, those who dare to leap into the unknown and build their wings along the way. I am filled with gratitude that the dream of my father, mine, and many extraordinary people with the courage to dream, is coming true. Thanks to the projects developed by Polenergia and Equinor, Poland can and will be powered by clean energy – produced in harmony with nature, with respect for our planet’s resources, and in service of future generations. This is a symbolic and pivotal moment that seals years of planning and preparation and opens a completely new chapter in Polenergia’s dynamic growth. The Baltic offshore wind farm project is a massive investment and a brilliant example of how perseverance, commitment, and a strong Polish-Norwegian partnership are turning a bold vision from a time when offshore wind was barely considered in Poland into reality – said Dominika Kulczyk, Chair of the Supervisory Board of Polenergia S.A.

– The Baltic 2 and 3 offshore wind farms are among the largest infrastructure projects ever undertaken in Poland. They will strengthen the country's energy security and independence, create jobs in a promising new sector, and provide green, renewable electricity that will enhance the competitiveness of the Polish economy. As the future operator of these farms, we proudly take this major step forward to establish a strong offshore wind hub in the Baltic Sea. In this role, we aim to deliver long-term benefits to Poland. The coming months and years will be a time of intensive cooperation with our partners, including many Polish companies and institutions. Together, we will work toward safely and effectively reaching the next project milestones – stated Michał Jerzy Kołodziejczyk, Country Manager of Equinor in Poland.

The Baltic 2 and 3 wind farms will be located in Poland’s exclusive economic zone of the Baltic Sea, approximately 37 km and 22 km from shore respectively. The projects will feature 100 state-of-the-art offshore wind turbines, each standing 260 metres tall – significantly higher than Warsaw’s Palace of Culture and Science. A single rotor turn will generate enough renewable electricity to power a household for four days. Combined, the farms are expected to supply clean energy to over 2 million Polish homes.

In addition to the turbines, the project includes the construction of Poland’s two largest offshore substations (OSS), each with a capacity of 720 MW, two onshore substations (ONS), and a 14-kilometre underground cable route. At the landfall point near Ustka, a horizontal directional drilling (HDD) method will be used to install seabed cables, minimising environmental and social impact.

The wind farms will connect to the national grid via the PSE Słupsk Wierzbięcino substation. In Łeba, Equinor will also establish a new operations and maintenance (O&M) base to support both the construction and long-term operation phases.

Equinor and Polenergia have already contracted more than a dozen key suppliers, including Polish firms Tele-Fonika Kable and Enprom. This strong domestic participation helps ensure local economic value and supports the competitiveness of Poland’s industrial base in the growing offshore wind sector.

The projects will be financed under a project finance model. Additional financial details will be disclosed upon financial close.

The operational lifetime of Baltic 2 and 3 is projected at 30 years, with both wind farms supported by 25-year Contracts for Difference (CfD).