Orsted and PGE have made the final investment decision (FID) for the 1.5 GW Baltica 2 Offshore Wind Farm, which will be constructed, owned, and operated in a 50/50 partnership between Orsted and PGE Polska Grupa Energetyczna, Poland's largest energy company. Situated approximately 40 km off the Polish coast near Ustka, Baltica 2 is anticipated to be fully operational by 2027.

Source: Orsted

The wind farm has secured a 25-year inflation-protected contract for difference (CfD) with the Polish government. It has received all necessary permits and established a grid connection agreement with the Polish transmission system operator, PSE.

With today’s announcement, we’re ready to build Baltica 2, a flagship project for offshore wind in Poland. We’re satisfied with the value creation of the project, which has an attractive risk-reward profile. I wish to thank the Polish government for its support, and I want to thank our partner PGE for working with us to reach this moment. Together, we’re writing a new chapter in the Polish energy sector, and we’re setting up an industry that will bring jobs and industrial development to Poland for decades to come.

All major contracts for components and vessels related to Baltica 2 have been finalized, effectively securing most of the project's capital expenditure (CAPEX) and significantly reducing the associated risks.

The Baltica 2 offshore wind farm, the largest renewable energy project currently under development in the Baltic Sea, will diversify Poland’s energy production, enhance energy security, and provide cleaner and more affordable energy. This investment represents a significant step in Poland’s energy transition and serves as a major boost to economic development, attracting new investments to the entire Polish economy and helping to create new jobs.

Poland's energy policy through 2040 identifies offshore wind as a crucial technology for transitioning to a low-emission economy. Under the Offshore Wind Act, Poland has pledged to install 5.9 GW of offshore wind capacity by 2030 and 11 GW by 2040.