An offshore wind farm with a capacity of approximately 720 MW under construction in Poland's exclusive economic zone of the Baltic Sea, several dozen kilometres from the shore off Łeba, developed jointly by the Norwegian group Equinor and the Polish group Polenergia in a 50/50 partnership. Bałtyk 2 is one of two twin projects (alongside Bałtyk 3) with a combined capacity of 1,440 MW and a combined value of approximately PLN 27 billion, for which final investment decisions (FID) were taken on 19 May 2025 and financial close was reached on 23 May 2025. The farms will together comprise 100 Siemens Gamesa SG 14-236 DD turbines (50 turbines per project). The investment is covered by a 25-year contract for difference (CfD) awarded in 2021. Full commercial commissioning is planned for 2028. Turbine foundation installation began in May 2026, carried out by the vessel Thialf, and at the turn of June and July the investors reported passing the halfway point of the 100 foundation sets for both farms. First power is to reach the grid in 2027.
How it went
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Timeline
- Construction startMay 2025
- Original date2028
- Current date2028
Change history
- 19 May 2025stage: construction
Significance
Bałtyk 2, together with its twin Bałtyk 3, belong to the first wave of commercial offshore wind farms on the Polish Baltic and are expected to significantly increase the country's renewable energy capacity. According to the investors, once commissioned the energy from both farms is expected to be sufficient to power approximately 2 million Polish households, supporting the energy transition and the diversification of generation sources.
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- Equinor22 May 2025StatusInvestorOriginal dateCostFundingDescriptionSignificance
StatusFinancial close for Bałtyk 2 and Bałtyk 3
InvestorBałtyk 2 and Bałtyk 3, developed by Equinor (50%) and Polenergia (50%), the largest private energy group in Poland, are two offshore wind projects with a total capacity of 1440 MW (720 MW each).
Original dateFull commercial power production is expected in 2028
CostTwo project financing packages of over EUR 3 billion for Bałtyk 2 and over EUR 3 billion for Bałtyk 3 including ancillary facilities, have been secured.
Fundinggearing of approximately 80%
Fundingaround 30 financial institutions
Fundingpower prices at approximately EUR 71 per MWh (2021 price) for 25 years, with inflation indexation
DescriptionThe two wind farms, developed in parallel, largely within the same time schedule, will consist of 100 fixed bottom turbines, placed 22-37 km off the Polish coast.
SignificanceTotal power capacity of the projects is 1440 MW, enough to power 2 million Polish homes.
FundingThe final group, comprising of around 30 financial institutions, includes the most experienced in the sector along with many of Equinor’s core banks, the Nordic Investment Bank and the European Investment Bank.
FundingThe wind farms are project financed with gearing of approximately 80%.
FundingThe offshore wind projects were awarded Contracts for Difference (CfD) in 2021, securing power prices at approximately EUR 71 per MWh (2021 price) for 25 years, with inflation indexation.
- [2]Equinor i Polenergia podjęły finalne decyzje inwestycyjne (FID) dla morskich farm wiatrowych Bałtyk 2 i Bałtyk 3 ↗archived ✓Polenergia19 May 2025Stage historyConstruction start
NameEquinor i Polenergia podjęły finalne decyzje inwestycyjne (FID) dla morskich farm wiatrowych Bałtyk 2 i Bałtyk 3
Stage historyEquinor, międzynarodowy koncern energetyczny z siedzibą w Norwegii oraz Polenergia, największa polska prywatna grupa energetyczna, podjęły ostateczne decyzje inwestycyjne (FID) dotyczące morskich farm wiatrowych Bałtyk 2 i 3, rozpoczynając fazę ich budowy.
Construction startpodjęły ostateczne decyzje inwestycyjne (FID) dotyczące morskich farm wiatrowych Bałtyk 2 i 3, rozpoczynając fazę ich budowy
- [3]Jest FID dla MFW Bałtyk 2 i 3 - Equinor i Polenergia rozpoczynają budowę morskich farm wiatrowych o wartości 27 mld zł ↗archived ✓OffshoreWindPoland.pl19 May 2025StageCurrent date
StageJest FID dla Bałtyk 2 i 3. Equinor i Polenergia rozpoczynają budowę morskich farm wiatrowych o wartości 27 mld zł
Current dateJuż w 2028 roku 100 nowoczesnych turbin wiatrowych z farm Bałtyk 2 i Bałtyk 3 będzie dostarczać energię
- Equinor Polska14 Jun 2023Description
LocationProjekty zlokalizowane będą w południowozachodniej części Morza Bałtyckiego, w ramach polskiej wyłącznej strefy ekonomicznej, około 27 i 40 km od portu Łeba
Descriptionnowoczesnych morskich turbin z napędem bezpośrednim SG 14-236 DD
DescriptionŁączna moc projektów realizowanych wspólnie przez Equinor i Polenergię to 1440 MW
- Funding
FundingThe European Investment Bank has provided €350 million for each wind farm
- Funding
Fundingtwo 26-year loans of €64m ($73.1m) and €62m respectively from the Nordic Investment Bank (NIB)
- Funding
FundingBank Gospodarstwa Krajowego (BGK), the EU’s European Investment Bank (EIB) and the Nordic Investment Bank (NIB)
- Funding
FundingKUKE is also participating in the transaction, providing repayment guarantees for a portion of the financing.
- Polenergia S.A.25 May 2026StageCurrent date
StageW ramach prac instalacyjnych na morzu zostanie zamontowanych łącznie 100 kompletów fundamentów.
Current dateProjekty Bałtyk 2 i Bałtyk 3 dostarczą pierwszą energię w 2027 roku, a pełne uruchomienie planowane jest na 2028 rok.
- Equinor Polska5 Aug 2026