With the closing of the agreement, which was first announced on 10 February 2021, PGE and Ørsted now each own 50% of the shares in the offshore wind projects Baltica 2 and Baltica 3, together comprising the Baltica Offshore Wind Farm.
The partners will jointly build and operate the offshore wind farms which will have a total installed capacity of up to 2.5 GW. Baltica 2 and Baltica 3 have already received environmental permits and signed grid connection agreements, and were awarded contracts for difference by the Polish Energy Regulatory Office. Subject to Ørsted's and PGE's final investments decisions, Baltica 3 (1 GW) could become operational in 2026, while Baltica 2 (1.5 GW) could become operational before 2030.