Poland commits €7.2 B to offshore wind
Bałtyk 2 and 3 secure €7.2B to deliver 1.4 GW, boosting Poland’s energy independence and Europe’s 2025 offshore wind capacity to 5.6 GW.
Image for illustrative purposes
Poland: Equinor and Polenergia have reached final investment decision (FID) for their Bałtyk 2 and 3 offshore wind farms, marking a major step forward in Poland’s energy transition. With a combined capacity of 1.4 GW and 100 turbines, the Baltic Sea-based projects will supply electricity to two million households. They are now part of six European offshore wind projects reaching FID in 2025, pushing total capacity financed this year to 5.6 GW, which is more than double that of 2024.
The €7.2 B investment is the second largest in Poland’s offshore wind history and the country’s largest ever project finance transaction. With over €6 B secured through financial institutions, including a €700 M loan from the European Investment Bank, investor confidence in Poland’s offshore market is strong. The projects are expected to be operational by 2028, supporting Poland’s goal of 5.9 GW offshore capacity by 2030.
Poland is also targeting strong local industry participation. Up to 38 % of project activity will involve Polish companies, with the aim of exceeding 40 % for the upcoming Bałtyk 1 project. This is part of a wider national strategy to invest $80 B (PLN 300 B) in offshore wind by 2040 and establish a strong green tech supply chain.
Despite challenges such as inflation and rising costs, mechanisms like Contracts for Difference (CfDs) are helping Poland and others secure offshore wind investments.
Source: Wind Europe
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