Equinor and Polenergia Reach Agreement on Offshore Wind Project in Poland

It was recently revealed that Equinor ASA (NYSE:EQNR) and Polenergia have reached an agreement on a wind energy project near the Polish coast. Let’s shed some light on the development.

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It was announced on May 19, 2025, that Norway’s Equinor ASA (NYSE:EQNR) and Poland’s Polenergia have taken a significant step forward in advancing renewable energy in Poland by making a final investment decision to develop two offshore wind farms in the Baltic Sea. The commitment by the two energy companies marks a pivotal move in the Central European country’s broader strategy to harness its substantial offshore wind potential, which the Polish Wind Energy Association estimates at 33 GW.

The two wind farms, with a generation capacity of 720 MW each, are expected to cost around $7.2 billion. The projects will commence generating power in 2027 and reach full completion in 2028. Investors like Equinor ASA (NYSE:EQNR), Orsted, Orlen, and PGE are currently building 6 GW of offshore wind capacity on the Polish coast, which is expected to come online by the end of the decade.

With over five decades of ocean engineering and project management expertise, Equinor ASA (NYSE:EQNR) is uniquely positioned to take a leading role in the offshore wind energy industry. The company’s total renewables portfolio has the potential to produce 35-60 TWh in 2030, with two-thirds of this production coming from offshore wind. However, the Norwegian energy giant announced earlier this year that it plans to nearly halve its investments in renewables and low-carbon solutions to around $5 billion in total after project financing for 2025-2027, in an effort to boost returns for shareholders and adapt to an uneven energy transition.

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