Offshore Construction Start

DELAYED +4yr (May 2026): Baltica 5 did NOT enter Poland's first offshore wind CfD auction settled 2025-12-18 (~3.4 GW awarded to Baltica 9, Baltic East, Bałtyk 1). PGE Baltica's 2025 portfolio summary (portalstoczniowy.pl) and its 'key information about our projects' page do not mention Baltica 5; the project sits outside PGE's wholly-owned pipeline because it is a 66.19/33.81 PGE-Enea JV. Enea confirmed in 2025 it is retaining its stake but no CfD = no FID = no construction start in 2026. Per Riviera Maritime Media, Poland's next offshore CfD auctions are 2027, 2029, 2031. Earliest credible route is the 2027 auction with ~2-year pre-construction phase to FID/EPC mobilisation. Slipping to 2030 (year, low) — LATER end of the realistic 2029-2031 window, defensible against the demonstrably falsified 2026 GlobalData projection. --- GlobalData’s profile for the 555 MW Baltica 5 offshore wind farm in the Polish Baltic Sea states that project construction is likely to commence in 2026. As Baltica 5 is an offshore wind power project to be developed in a single phase, this projected construction start refers to the beginning of main build activities for the offshore wind farm, marking the transition from early development into the construction phase. The project is currently described as being at the announced stage and is planned to progress from this point into construction around 2026, ahead of an expected commercial operation date in 2030.