Equinor has exercised an option to acquire a 50 % interest in the Baltyk 1 offshore wind farm in Poland from Polenergia.
The Norwegian energy giant said the two companies will form a 50:50 joint venture to develop the up to 1560MW project.
Development of Baltyk 1 is in the early stages and the partners will “further mature” the project towards a future auction and final investment decision.
Equinor will manage preparations for construction, as well as the building of the project and operations.
The Baltyk 1 site is located in the Baltic Sea about 81km from the port of Leba in water depths of 25-35 metres.
Equinor senior vice president for strategy and business development in New energy solutions Jens Okland said: “We are very pleased to further deepen our presence in Poland and to work with Polenergia, which is an experienced energy company with an in-depth knowledge of the Polish energy market.
“This acquisition strengthens our presence in the Baltic Sea area giving opportunities for scale and synergies in a longer perspective.”
Equinor added that the latest deal is a follow-up to an agreement between the two companies which came into force in May 2018, when the Norwegians acquired 50% stakes in Baltyk 2 and Baltyk 3.