Ørsted in talks for Polish offshore wind buy-in

Ørsted is discussing options with Polish state-controlled utility Polska Grupa Energetyczna (PGE) about buying a 50% stake in two special purpose vehicles (SPV) developing offshore wind farms in the Baltic Sea with a combined capacity of up to 2.5GW.

by Craig Richard 23 October 2019

Ørsted listed Poland among its “next horizon markets” for offshore wind at its Capital Markets Day in 2018

The talks relate to the Elektrownia Wiatrowa Baltica 3 SPV, which is planning an approximately 1GW site due online by 2026, and the Elektrownia Wiatrowa Baltica 2 SPV, which is planning an approximately 1.5GW site due online by 2030. PGE owns 100% of each of the SPVs.

Both projects are planned for sites off the coast of Leba in the north-eastern Pomerania province.

In September, PGE agreed to share knowledge and expertise for the offshore wind farms and also collaborate on their design and construction with compatriot oil refiner PKN Orlen, which is planning a 1.2GW site in the Baltic Sea.

Neither company has any experience in offshore wind.

PGE had been searching for a strategic partner to develop the two offshore wind farms since December 2018.

That November, Ørsted listed Poland among its "next horizon markets" for offshore wind at its Capital Markets Day.

Ørsted is not the only well-established developer setting its sights on Poland's nascent offshore wind sector.

Equinor is also developing three wind farms with a combined capacity of 2.76GW with Polish utility Polenergia.