Statoil Makes Offshore Wind Power Play in Poland

Statoil has signed an agreement with Polenergia to acquire a 50% interest in the two early phase offshore wind development projects in Poland, Bałtyk Środkowy III (BSIII) and Bałtyk Środkowy II (BSII).

Statoil is also entering into a 50/50 joint venture with Polenergia to further mature these projects with a planned capacity of 1,200MW, with Statoil being the manager for the development, construction and operational phases.

The Bałtyk Środkowy II and III wind farm areas are located in the Baltic Sea approximately 27 and 40 kilometres from the port of Łeba in water depths of 20-40 meters.

The closing of the transactions with Polenergia is subject to the consent of the President of the Office of Competition and Consumer Protection in Poland. The value of the transactions has not been disclosed.

Offshore wind already has a strong foothold in Europe with over 15GW installed capacity, with a potential to reach between 50 and 70GW by 2030. Polish Baltic Sea has a potential in excess of 8GW, where the first 4GW could be in operation by 2030, Statoil said.

“We are entering a market with growth potential through two of the most advanced offshore wind developments in Poland,” said Irene Rummelhoff, executive vice president of New Energy Solutions in Statoil.

”The country is well-placed to develop a strong offshore wind industry that would create jobs and value in one of the most dynamic parts of the European markets. Following a dramatic reduction in cost for offshore wind, we are looking forward to work with our new partner, the Polish authorities and the Polish supply chain to advance offshore wind as a competitive source of energy and industry.”