Polenergia commits 323 millions USD to offshore and storage projects

With 323 millions USD in cash, Polenergia strengthens its investments in offshore wind, solar and storage, targeting more than 2.3 GW of new energy capacity in Poland.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Polenergia, Poland’s largest privately owned energy group, is accelerating its strategic investments in offshore wind, solar power and electricity storage. Backed by PLN 1.3bn ($323mn) in cash reserves, the company reported an earnings before interest, tax, depreciation and amortisation (EBITDA) of PLN 312.9mn ($77.7mn) and an adjusted net profit of PLN 61.2mn ($15.2mn) for the first half of 2025.

Offshore project deployment

In cooperation with Equinor ASA, Polenergia is building the offshore wind farms Bałtyk 2 and Bałtyk 3, with a combined capacity of 1.44 GW. Both projects have reached final investment decision and secured financing. Current works focus on onshore infrastructure and seabed clearance. Once operational, the wind farms are expected to supply electricity to more than two million Polish households.

The Bałtyk 1 project, presented as the largest of Poland’s second offshore wind development phase, is being prepared for auction. The facility, with a potential capacity of up to 1.56 GW, has been pre-qualified by Polenergia and Equinor with the Energy Regulatory Office.

Onshore investments and storage

The company is also expanding onshore. It commissioned its largest photovoltaic power plant to date, the Szprotawa plant, with a capacity of 67 MW. This increases the group’s total installed renewable capacity to 642 MW, estimated to meet the needs of around 35,000 households.

A final investment decision has also been made for the Rajkowy solar farm, with a capacity of 35 MW. Polenergia’s development pipeline includes more than 2.3 GW of wind and solar projects. The company is also progressing with battery energy storage projects totalling about 500 MW, with first construction readiness expected between 2025 and 2026.

Financial structure and outlook

According to management, Bałtyk 2 and Bałtyk 3 benefit from record financing within the Polish energy sector. Polenergia stated it has fully secured its equity contribution and established reserves to mitigate potential cost increases. An interest rate hedge implemented in April led to a one-off charge of PLN 30mn ($7.46mn) but saved over PLN 100mn ($24.8mn) on equity contribution.

The company is preparing to launch the 48.3 MW Bądecz onshore wind project and is reviewing several technological solutions for its future storage systems. These facilities are intended to improve surplus energy management and increase the economic value of renewable assets.

The Australian government has granted environmental approval for the 108 MW Waddi Wind Farm, a Tilt Renewables project with construction costs exceeding $400mn.
The 180 MW Nimbus wind project enters its final phase of construction in Arkansas, with commercial operation scheduled for early 2026.
Faced with market uncertainty in Europe, Siemens Gamesa pauses a planned industrial investment in Esbjerg, highlighting structural difficulties in the offshore wind sector.
Institutional deadlock in France delays tenders and weakens the offshore wind sector, triggering job cuts and major industrial withdrawals from the market.
The Lithuanian energy group has signed a EUR 318 million financing agreement for its 314 MW wind project, the largest in the Baltic states.
German group BayWa r.e. has tasked Enercoop Bretagne with implementing a citizen investment scheme for its planned wind farm in Plouisy, aiming for shared governance and stronger local involvement.
US wind capacity fell in Q2, but developers anticipate a sharp increase by late 2025, with 46 GW of new capacity forecast by 2029 and a peak in 2027.
Engie has signed a renewable electricity supply contract with Apple covering 173 MW of installed capacity in Italy, with commissioning scheduled between 2026 and 2027.
Renova a soumis une méthodologie d’évaluation environnementale pour un projet éolien terrestre de 280MW à Higashidori, renforçant son positionnement sur les technologies renouvelables au Japon.
The joint venture between BP and JERA ends its offshore wind ambitions in the United States, citing an unfavourable economic and regulatory environment for continuing the development of the Beacon Wind project.
With a 300 MW partnership signed with Nadara, Q ENERGY exceeds 1 GW of wind repowering projects in France, reinforcing its position in a market driven by public investment dynamics.
The acquisition of Cosmic Group by FairWind consolidates its position in Australia and marks a strategic expansion into New Zealand and Japan.
Danish manufacturer Vestas has paused construction of its planned facility in Poland, originally set for 2026, citing weaker-than-expected European offshore wind demand.
British operator Equitix has been selected to take over transmission assets of the Neart na Gaoithe offshore wind farm, a £450mn ($547mn) project awarded under Ofgem’s tenth tender round.
Energiequelle GmbH has launched replacement work for old turbines at its Minden-Hahlen site, aiming for long-term structural maintenance with the installation of three new 200-metre machines.
GE Vernova will equip the Ialomiţa wind farm with 42 turbines of 6.1 MW, strengthening its presence in the European onshore wind sector with a 252 MW project in partnership with Greenvolt.
Eversource Energy posts a one-time $75mn charge linked to unforeseen costs in the Revolution Wind project, while tightening its 2025 earnings forecast.
The Renewables Infrastructure Group has signed a ten-year power purchase agreement with Virgin Media O2 for its onshore wind farms in the United Kingdom, ensuring price stability for both parties.
Eight local associations in Normandy and Hauts-de-France will receive a total of €120,000, financed by revenues from three RWE wind farms, to support public-impact projects in 2025.
CWP Europe formalised two major projects in Albania and Montenegro with backing from the European Commission, reinforcing the Balkans’ integration into the European energy market.

All the latest energy news, all the time

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.