Orsted and PGE Confirm Investment in Baltica 2 Wind Farm
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)
