Published on December 27th, 2018 | by Joshua S Hill0
Equinor Acquires 50% Interest In 1,560 Megawatt Polish Offshore Wind Project
December 27th, 2018 by Joshua S Hill
Norwegian oil, gas, and wind company Equinor announced just before Christmas that it is exercising an option to acquire a 50% interest in the 1,560 megawatt (MW) Bałtyk I offshore wind farm located in the Baltic Sea off the coast of Poland.
In March of 2018, Equinor — which was at the time named Statoil — announced that it had acquired a 50% interest in the early phase development of two offshore wind farms off the coast of Poland with a combined capacity of 1.2 gigawatts (GW). Equinor entered into an agreement with Polish electric power distribution company Polenergia to acquire a 50% stake in the Bałtyk Środkowy II (BSII) and Bałtyk Środkowy III (BSIII) offshore wind farms, located approximately 27 and 40 kilometers off the coast of Poland in the Baltic Sea. With planned capacities of 600 MW each, the two wind farms are expected to begin construction respectively in 2023 and 2020, with completion dates of 2026 and 2022.
On December 20, Equinor announced that it had exercised an option to acquire a similar 50% interest in the Bałtyk I offshore wind farm (Equinor seems to have dropped the ‘Środkowy’) — a follow-up of the original agreement made between the two companies earlier this year. Bałtyk I is in early-stage development but the license is for the development of a wind farm with capacity up to 1,560 MW located approximately 81 kilometers from the port of Łeba, Poland.
“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,” said Jens Økland, Senior vice president for strategy and business development in New energy solutions in Equinor. “This acquisition strengthens our presence in the Baltic Sea area giving opportunities for scale and synergies in a longer perspective.”