Orsted, PGE finalise decision to invest in wind farm off Poland (updated)

PGE Polska Grupa Energetyczna SA

29/01/2025 16:59

(Adds ownership division in paragraph 2, comment in paragraph 3
and background in paragraphs 4-5)
       HELSINKI, Jan 29 (Reuters) - Poland's PGE  PGE.WA  and
Denmark's Orsted  ORSTED.CO  have taken the final decision to
build Baltica 2, a 1.5-gigawatt offshore wind farm on Poland's
Northwestern coast, the companies said on Wednesday.
    Both companies will own 50% of the farm which is expected to
be fully commissioned in 2027, a joint statement read.
    "All major component and vessel contracts for Baltica 2 have
been signed," the statement said, adding that most of the
project's capital expenditure was locked in.
    Orsted and Poland's largest power group, state-controlled
PGE, in 2021 decided to develop two offshore wind farms
totalling 2.5 Gigawatts.
    PGE has said it expects power from Baltic Sea wind farms to
account for 40% of its electricity generation in 2040.

(Reporting by Essi Lehto; Editing by Alison Williams and Hugh
Lawson)
((mailto:essi.lehto@thomsonreuters.com; +358505412375;))