Wind Power Market: Ørsted Integrates Baltica 2 and 3 Projects

Wind Power Market: Ørsted Integrates Baltica 2 and 3 Projects

The offshore wind market welcomes a new joint venture between Danish energy companies Ørsted and Polish PGE. The two companies are joining forces to develop and operate the Baltica 2 and 3 projects in the Baltic Sea. Ørsted thus recovers 50% of the share capital of these two projects which should develop 2.5 GW of cumulated power.

Polish offshore wind market integrates a new player

A 50/50 joint venture between Østred and PGE

The European offshore wind market will therefore have a new joint venture. European offshore wind market leader Ørsted and Polish power producer Polska Grupa Energetyczna (PGE) have agreed on a 50/50 deal. The collaboration is expected to be effective before the end of the first quarter of 2021.

Read on energynews.com: Merger acquisition: Northland and PKN ORLEN join forces

Additional 2.5 GW in the Baltic Sea

The objective of this joint venture is to develop the Baltica 2 and 3 wind farms planned in the Baltic Sea off the Polish coast.

According to Monika Morawiecka, President of PGE Baltica:

“The two projects we will develop together are among the most advanced offshore projects in Poland.”

They should develop 1.5 and 1 GW respectively. Together, the 2.5 GW of power could supply about 4 million households and avoid the emission of 8 million tons of CO2.

They are also part of the Polish plans for the development of offshore wind power. The government has planned to allocate 5.9 GW of offshore wind power in 2021.

The rise of Polish and European offshore wind power

28 GW of offshore wind in the Baltic Sea by 2040

According to Martin Neubert, CEO of Ørsted:

“Poland is becoming the leading country in the Baltic Sea.”

This is also the opinion of the Polish government. According to him, Poland could even develop up to 28 GW of offshore wind power by 2040. The President of PGE Wojciech Dabrowski states that the company wants to participate in this national project with at least 6.5 GW.

In short, PGE intends to actively participate in the development of offshore wind energy in its country. Alongside Ørsted, PGE would benefit from the Danish group’s world-renowned expertise in offshore wind energy.

Read on energynews.com: Wind farm: a 1st “energy island” in Denmark

Ørsted has a 17% share in European offshore wind

In terms of expertise, Ørsted is Europe’s largest owner of offshore wind farms. According to the WindEurope 2021 report, the company has a 17% market share. In 2020 alone, the company has developed about 750 MW of offshore wind turbines in European waters.

The Baltic Sea alone has 2.2 GW of offshore wind power. The additional 2.5 GW planned by the Baltica 2 and 3 projects, at best for 2026, are proof of Poland’s desire to establish itself in these waters as the future leader. The ultimate goal is to reduce carbon emissions in a country where 80% of electricity is currently supplied by coal.

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