Milestone for Offshore Wind Energy in Poland: Ørsted and PGE Launch Offshore Installation of 1.Milestone for Offshore Wind Energy in Poland: Ørsted and PGE Launch Offshore Installation of 1.5 GW Baltica 2 Project – Share Price Rises
Fredericia (Denmark) – Danish offshore specialist Ørsted and Poland's largest energy utility PGE have commenced the offshore installation of the Baltica 2 wind farm in the Polish Baltic Sea. With a capacity of 1.5 GW, the joint project will become Poland's largest offshore wind farm – a milestone for Poland's energy transition.
Offshore Construction Underway: Van Oord Installs 111 Monopiles in the Baltic Sea
With the successful installation of the first monopile foundations, the Ørsted and PGE joint project has reached a decisive construction phase. The installation contract has been awarded to Dutch offshore specialist Van Oord, which will anchor a total of 111 monopiles on the seabed – 107 as foundations for the wind turbines and 4 for the offshore substations. The installation campaign is expected to be completed by the fourth quarter of 2026.
Installing the monopiles is technically demanding: measuring around 100 metres in length, with diameters exceeding 10 metres and an average weight of 1,500 tonnes, the foundations are purpose-built for deployment in the Baltic Sea. Each element is individually tailored to its specific location and designed for an operational lifespan of up to 30 years. Van Oord is deploying the offshore installation vessel Aeolus and the heavy-lift vessel Svanen for the works.
Govert van Oord, CEO of Van Oord, commented: "Offshore installation is complex and weather dependent, and our priority is to execute every operation with the utmost care for people and the Baltic Sea environment."
The wind farm will consist of 107 turbines of the Siemens Gamesa 14-222 type, each rated at 14 MW. Turbine installation will be handled by Cadeler and Fred. Olsen Windcarrier. The Port of Gdańsk will serve as the logistics hub for storage, pre-assembly and offshore transport of components.
With full commissioning expected by end of 2027 and a projected annual output of 5 to 6 TWh, Baltica 2 will significantly expand Poland's renewable electricity generation.
Economic Framework: Long-Term CfD for Baltica 2
The project rests on a solid financial foundation. Baltica 2 holds a 25-year inflation-protected Contract for Difference (CfD) with the Polish state. The strike price is based on an agreed value of €71.82 per MWh from 2021, adjusted by cumulative inflation up to the CfD start date, after which annual inflation indexation applies. Upon expiry of the CfD, the wind farm may feed electricity into the grid at market prices or enter into new power purchase agreements.
The 50/50 partnership between Danish group Ørsted and PGE Polska Grupa Energetyczna, Poland's largest energy company, forms the commercial foundation. All regulatory approvals are in place, and the grid connection agreement with Polish transmission system operator PSE has been signed.
PGE CEO Dariusz Lubera underlined the strategic significance: "Our investment strengthens Poland's energy security, provides a stable source of zero-emission energy, and simultaneously reduces dependence on fossil fuel imports." Ørsted CEO Rasmus Errboe added: "Poland and Europe need offshore wind to strengthen their energy security. Building a secure, resilient, and sustainable Europe is more important than ever."
Ørsted Share Price Up Almost 40% Since the Start of the Year
Ørsted shares, listed in the renewable energy index RENIXX World, gained 1.8% yesterday to close at €22.23 (closing price 11 May 2026, Stuttgart Stock Exchange). That represents a gain of 37.7% compared to the turn of the year.
Source: IWR Online, 12 May 2026
