Fid Financial Close

DELAYED +2yr (May 2026): B2/3 took 39 months from turbine selection (Siemens Gamesa SG 14-236 DD, Feb 2022) to FID + financial close (May 2025), with foundation (Sif), inter-array (Seaway7), export cable (JDN + Hellenic), electrical (Hitachi Energy) and installation contracts all in place pre-FID. B1's first Supplier Day was only 16 Sep 2025; baltyk123.pl's 16 Dec 2025 wrap-up reports no major B1 supplier contracts disclosed, and nothing has surfaced Jan-May 2026. Applying the B2/3 39-month cycle from earliest credible B1 turbine-selection (late 2026) gives FID early 2030, rounded conservatively to year-end 2029. The developer's 'by 2027' (Windtech 19 Dec 2025) is the publicly stated target but is not supported by the operational state — no permit lodged, no supplier contracts, no financing scoped. AC base case. HVDC scenario: a 2024 PSE application to switch the connection conditions to HVDC remains unresolved per the 2026-02-28 PSE register (UoP still dated 2021-01-29). If PSE later approves, add +1-2 years for HVDC converter slot constraints (Hitachi/Siemens Energy/GE booked into 2030-31) and converter-platform design iteration. --- With the CfD now awarded, the Bałtyk 1 partners Equinor and Polenergia outline 2027 as the target year to reach a Final Investment Decision (FID) and secure any associated project financing, alongside obtaining the main building permit. Industry reporting on the project states that a building permit and FID are expected by 2027 for the 1,560 MW Bałtyk 1 offshore wind farm, which will use up to 104 turbines and is planned to enter commercial operation in 2032. Achieving FID will mark the transition from development to full-scale construction, confirming that the joint venture boards have approved the required multi‑billion‑zloty capital commitment and that lender and equity arrangements are in place. As of the latest sources, this timing remains a forward-looking plan rather than a completed decision.