Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
Bałtyk 2 secured its main revenue support mechanism in 2021 when Poland’s Energy Regulatory Office (URE) awarded Contracts for Difference (CfDs) to the Bałtyk 2 and Bałtyk 3 offshore wind projects. The CfDs fix the power price for 25 years, providing long-term revenue certainty and underpinning project bankability. Equinor and Polenergia, the 50:50 joint venture partners, state that the projects were granted CfDs in May 2021. Equinor later specified that the CfDs secure a strike price of approximately EUR 71 per MWh in 2021 prices, indexed to inflation, for the 1,440 MW combined capacity. This revenue framework is the core support scheme for the Polish Phase I offshore wind projects and was a prerequisite for subsequent financing and FID on Bałtyk 2.