Poland’s Energy Regulatory Office (URE) has concluded the country’s first-ever auction for offshore wind power, awarding contracts to three projects with a combined capacity of 3.4 gigawatts (GW).
The agreements provide for guaranteed prices for electricity produced from the wind farms, with the state making up the costs if prices are lower but receiving excess revenues if they are higher.
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The auction was seen as a crucial step in ensuring the viability of Poland’s nascent offshore wind sector. The country currently has no offshore wind farms in operation, with the first – Orlen’s Baltic Power, which did not take part in the auction – scheduled to come online next year.
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Following its successful completion, Poland’s was the largest such auction anywhere in Europe this year, exceeding the combined total of Germany and France, note analysts at Pekao, a bank.
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The three projects that reached such agreements in the auction were state energy giant Orlen’s Baltic East, with a capacity of 900 megawatts (MW); the 975-MW Baltica 9 project of another state firm, PGE; and Bałtyk I, a 1,560 MW project developed by private Polish firm Polenergia and Norway’s Equinor.
Retail prices are very high in poland, so it’s economically feasible… Not that anyone likes high prices but it is what it is