Equinor completes acquisition of a 50% stake in Baltyk I offshore wind project

Norway’s Equinor ASA has completed the acquisition of a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia. The company now has an interest in all three Bałtyk offshore wind development projects (MFW Bałtyk III, MFW Bałtyk II, and MFW Bałtyk I.)

The Bałtyk I offshore location license allows for the development of a wind farm with a capacity up to 1560MW of which Equinor will hold 50%. Equinor will be the manager for the construction preparation and the potential construction and operational phases.

It was in 2018 that Equinor acquired a 50 % interest in the offshore wind development projects Bałtyk II and Bałtyk III which have a combined planned capacity of 1,440 MW with the potential to power more than two million Polish households. Later that year, Equinor decided to exercise an option to acquire a 50 % interest in the Bałtyk I offshore wind development project, and this transaction is now concluded.

The wind farm area is in the Baltic Sea in water depths of 25-35 meters, approximately 80 kilometers from the port of Łeba.

The two companies have a 50/50 joint venture and are working together to mature the Baltyk projects towards construction.