Energy 5 July, 2023 7:30 am   
COMMENTS: Jacek Perzyński

Equinor has an appetite for Polish offshore

Offshore-PGE-Baltica-760×327 Offshore. Pic PGE Baltica

 “Poland is one of Equinor’s strategic markets that perfectly fits into the company straegy,”  Pal Eitrheim, Equinor’s VP for Renewables told the Polish Press Agency (PAP). According to him, Equinor has ambitions to invest more in Polish offshore.

The Baltic Sea will soon become Poland’s new energy hub. Along with the need to invest in renewables, Polish energy companies intend to develop offshore farms, but for this purpose it is necessary to cooperate with foreign companies.

“We have been here for 30 years and we want to continue to grow. The Polish market fits perfectly into Equinor’s strategy. This is a country that is rapidly transforming and therefore has a very high potential, not only in terms of further growth in renewable energy sources, but also in terms of the growing gas demand, ” Eitrheim said.

According to the VP, by increasing the capacity target for Poland’s offshore wind from 11 to 18 GW by 2040 the government has sent an important message to the market. In the Polish part of the Baltic Sea, Equinor has three offshore farm projects jointly with Polenergia. The Baltic II and III farms with an installed capacity of 1.44 GW are to be built first. Next will be the Baltic I farm with a potential of 1.56 GW.

“However, we still have an appetite for more investments in offshore wind in Poland,” Eitrheim admitted.

It is worth mentioning that Equinor (formerly Statoil) is a concern controlled in two thirds by the government of Norway. It is one of the world’s largest operators of offshore wind farms, it also invests in other renewable energy sectors. Equinor is also the largest oil and gas operator in Norway and the second largest gas supplier in Europe, accounting for 20% of the European gas demand.

Polish Press Agency / Jacek Perzyński