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Final investment decision for “Baltica 2” offshore wind farm

Ørsted and PGE have made the final investment decision (FID) for the 1.5 GW offshore wind farm “Baltica 2″ 40 km off the Polish coast.

“Baltica 2” will be built and operated as part of a 50/50 partnership between Ørsted and Poland’s largest energy company PGE Polska Grupa Energetyczna. The offshore wind farm will be built about 40 km off the Polish coast near Ustka and is scheduled to be fully operational in 2027.

The offshore wind farm has concluded a 25-year inflation-protected contract for difference (CfD) with the Polish state. “Baltica 2″ has all permits and has signed a grid connection agreement with the Polish transmission system operator PSE. All major component and vessel contracts for the offshore wind farm have already been signed, securing the majority of the project’s investment costs and significantly de-risking the project.

“With today’s announcement, we are ready to build ‘Baltica 2’, a flagship project for offshore wind power in Poland. We are pleased with the value creation of the project, which has an attractive risk-reward profile,” said Rasmus Errboe, Deputy CEO and Chief Commercial Officer at Ørsted. “I would like to thank the Polish government for their support and our partner PGE for working with us to reach this moment. Together we are opening a new chapter in the Polish energy sector and building an industry that will bring jobs and industrial development to Poland for decades to come.”

One of the largest renewable energy projects in the Baltic Sea

Dariusz Marzec, CEO of PGE, said: “The ‘Baltica 2’ offshore wind farm, the largest renewable energy project currently under development in the Baltic Sea, will diversify Poland’s energy production, increase energy security and provide cleaner and more affordable energy compared to fossil fuels.” The investment represents a significant step in Poland’s energy transition and is an important stimulus for economic development, attracting new investments for the entire Polish economy and contributing to the creation of new jobs.

Agata Staniewska-Bolesta, Managing Director of Offshore Poland at Ørsted, said: “The development of offshore wind energy is a key element in Poland’s energy transition, which will strengthen the country’s energy security. We are very proud that, despite the macroeconomic challenges, we and our partner PGE have achieved this important milestone by combining the expertise of Poland’s largest power producer with Ørsted’s 30 years of experience as a global leader in offshore wind development.”

“Baltica 2” to supply around 2.5 million Polish households

As Poland’s largest renewable energy project to date, “Baltica 2” will pave the way for Poland’s transition to green energy by producing green electricity for the needs of around 2.5 million Polish households and delivering the first electricity in 2027.

Poland’s energy policy until 2040 identifies offshore wind energy as a key technology for Poland’s transition to a low-emission economy. With its Offshore Wind Act, Poland has committed to installing 5.9 GW of offshore wind by 2030 and 11 GW by 2040.

About “Baltica 2”:

  • “Baltica 2″ is scheduled to be fully operational by the end of 2027. Ørsted and PGE are responsible for the entire scope of the wind farm, including offshore transmission and substations.
  • “Baltica 2” will use the Port of Gdansk for storage, pre-assembly and offshore installation of wind turbine components.
  • The wind farm will comprise 107 Siemens Gamesa 14 MW-222 wind turbines installed by Cadeler and Fred. Olsen Windcarrier, while Van Oord will install the foundations and offshore substations.
  • The CfD for “Baltica 2” has a term of 25 years and will commence after the wind farm is commissioned, which is expected in 2027. The nominal starting price per MWh is set based on the agreed price for 2021 of EUR 71.82 plus cumulative inflation from 2021 until the start of the CfD. The price per MWh will be adjusted annually for inflation. At the end of the CfD, “Baltica 2” will receive the market price for electricity or conclude new power purchase agreements.
DNV zertifiziert Offshore-Windpark »Baltica«
The “Baltica” offshore wind farm with a total capacity of up to 2.5 GW will be developed in two phases: “Baltica 2” with around 1.5 GW and “Baltica 3” with around 1 GW. Ørsted and PGE plan to commission “Baltica 2” by the end of 2027 and Baltica 3 by 2030. © PGE/Ørsted

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Copyright: © PGE/Ørsted

Caption: The "Baltica" offshore wind farm with a total capacity of up to 2.5 GW will be developed in two phases: "Baltica 2" with around 1.5 GW and "Baltica 3" with around 1 GW. Ørsted and PGE plan to commission "Baltica 2" by the end of 2027 and Baltica 3 by 2030. © PGE/Ørsted