Finance
Orsted, PGE finalise decision to invest in wind farm off Poland
Published by Global Banking & Finance Review®
Posted on January 29, 2025
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 29, 2025
1 min readLast updated: January 27, 2026
Orsted and PGE have committed to building the 1.5GW Baltica 2 offshore wind farm in Poland, expected to be operational by 2027.
HELSINKI (Reuters) - Poland's PGE and Denmark's Orsted 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)
The article discusses the investment decision by Orsted and PGE to build the Baltica 2 offshore wind farm in Poland.
Baltica 2 is a 1.5-gigawatt offshore wind farm.
The wind farm is expected to be fully commissioned by 2027.
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