Equinor, Polenergia Agree on Polish Offshore Wind Project

Norway's Equinor and Poland's Polenergia made a final investment decision for the project to build two wind farms off the Polish coast of the Baltic Sea, the Warsaw-based company said on Monday.

The two farms, each with a generation capacity of 720 megawatts are set to cost a total of about 6.4 billion euros ($7.20 billion) and start generating power in 2027 and be completed in 2028.

Investors, including PGE, Orlen, Equinor and Orsted are developing 6 gigawatts (GW) of offshore capacity along the Polish coast set to come online by 2030 and auctions for projects in the second round are planned for 2025.

Poland is boosting offshore potential in the Baltic Sea estimated to be as high as 33 GW, according to the Polish Wind Energy Association (PSEW).

($1 = 0.8883 euros)

(Reuters/Reporting by Marek Strzelecki;Editing by Tomasz Janowski)