December 10 (Renewables Now) - Norway’s Equinor ASA (NYSE:EQNR) today said it has completed the purchase of a 50% stake in the Baltyk I offshore wind project in Poland.
The Norwegian oil and gas major will co-develop the project with local energy major Polenergia SA (WSE:PEP), from whom it acquired the interest. The licence for the scheme enables the development of a wind park with a maximum capacity of 1,560 MW in the Baltic Sea, about 81 km (50 miles) from the port of Leba.
In March 2018, Equinor agreed to buy 50% stakes in the Baltyk Srodkowy II (BSII) and Baltyk Srodkowy III (BSIII) schemes with a combined capacity of up to 1,440 MW. With the latest deal, the company will be involved in all three Baltyk offshore wind projects and will have “the opportunity to build scale and value” in this region, said Jens Okland, senior vice president for business development, new energy solutions at Equinor.
The Norwegian company and its partner have formed a 50/50 joint venture to co-develop the Baltyk projects and potentially take part in future auctions.
Equinor announced its intention to exercise its right to buy 50% in Baltyk I at the end of 2018. It will manage the preparatory construction activities and will also be in charge of the project’s potential construction and operational phases.
“Poland is an important market for Equinor and we are pleased to continue our partnership with Polenergia, which is an experienced energy company with an in-depth knowledge of the Polish energy market,” Økland added.