Equinor has exercised an option to acquire a 50 % interest in the offshore wind development project Baltyk I in Poland from Polenergia. This transaction is a follow-up of the agreement between the two companies which came into force in May 2018, by which Equinor acquired a 50 % interest in Bałtyk II and Bałtyk III.
The project is in an early stage and the companies will form a 50/50 joint venture to further mature the project towards future auction and final investment decision (FID) with Equinor being the manager for the construction preparation and the potential construction and operational phases. The Bałtyk I offshore location license allows for a development of a wind farm with a capacity up to 1560MW of which Equinor will hold 50%. The wind farm area is located in the Baltic Sea in water depths of 25-35 meters, approximately 81 kilometers from the port of Łeba.