Commercial Operations Full Power

DELAYED +2yr (May 2026): 2032 COD was explicitly contingent on Baltica 1 winning the 17 Dec 2025 Polish offshore wind CfD auction (balticwind.eu: 'if it wins the difference contract in this year's auction, will be commissioned by the end of 2032'). Baltica 1 LOST the auction — URE announced the AMFW/1/2025 results on 18 Dec 2025 with three winners (Bałtyk I, Baltica 9, Baltic East); Baltica 1's bid did not secure support. Per Aegir Insights piece (19 Dec 2025), 'Baltica 1...can bid in Poland's next support auction, planned for 2027'. PGE Investor Presentation Jan 2026 (English) confirms PGE submitted Baltica 1 alongside Baltica 9 in the 2025 auction; Baltica 9 won at PLN 489/MWh with commissioning planned 17 Dec 2032 — a 7-year CfD-to-COD lead. Applying the same lead to a hypothetical 2027 CfD win for Baltica 1 places COD at end-2034. PGE has not published a revised official COD; this is a reasoned placeholder pending the 2027 auction outcome. --- Baltica 1, an approximately 0.9 GW offshore wind farm being developed by PGE Group in the Polish Baltic Sea, is planned to reach full commercial operation after 2030. Recent project updates state that, contingent on securing a Contract for Difference (CfD) in the 17 December 2025 Polish offshore wind auction, the wind farm is expected to be commissioned by the end of 2032. The project already holds a location permit and grid connection agreement, and has completed extensive environmental, geotechnical, geological, and metocean studies, positioning it for construction and subsequent entry into commercial service on this revised timeline.