Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 7 April 2021, the President of the Polish Energy Regulatory Office (ERO) awarded a Contract for Difference (CfD) to the Baltica Offshore Wind Farm, covering both the Baltica 3 and Baltica 2 phases with a combined capacity of up to 2.5 GW. The award, at a maximum strike price of PLN 319.60/MWh set by regulation, confirms that Baltica 3 secured Poland’s Phase I offshore wind support mechanism under the Offshore Wind Promotion Act. The CfD provides 25‑year, inflation‑linked revenue support, underpinning the financial viability of the 1,045 MW Baltica 3 project being jointly developed by Ørsted and PGE. This decision marked a major milestone for the project, moving it from pure development risk towards bankability by locking in a stable support framework ahead of detailed design and financing activities.