Baltica

What Baltica does

Baltica is a Polish offshore wind farm developer operating under the legal entities Elektrownia Wiatrowa Baltica-2 Sp. z o.o. and Elektrownia Wiatrowa Baltica-3 Sp. z o.o., headquartered at ul. Mokotowska 49 in Warsaw. It is a 50/50 joint venture between PGE Polska Grupa Energetyczna, Poland's largest electricity producer, and Ørsted, the global offshore wind market leader, formalized in May 2021 after a December 2019 non-binding agreement and the earlier 2019 creation of PGE Baltica as the dedicated PGE vehicle for offshore development. The core asset is the Baltica 2+3 offshore wind farm in the Polish Baltic Sea, comprising Baltica 2 (1.5 GW, located approximately 40 km off the coast near Ustka) and Baltica 3 (approximately 1.0 GW), for a combined installed capacity of up to 2.5 GW that is expected to power around 4 million Polish households and avoid approximately 8 million tons of CO₂ emissions annually.

Technically, the project relies on monopile foundation technology, with 111 monopiles being installed for Baltica 2 (107 supporting wind turbines and 4 supporting offshore substations), deployed by Van Oord using the heavy-lift vessels Svanen and Aeolus out of the port of Rønne, alongside export cable infrastructure and onshore grid connection at Choczewo in Pomerania. Environmental mitigation includes bubble curtain noise reduction during foundation installation and active marine mammal monitoring. Foundation installation began in May 2026 and is scheduled for completion in Q4 2026, with first power targeted for H1 2027 and full commercial operations by end of 2027.

Commercially, Baltica operates as a large-scale infrastructure project with revenue secured via a 25-year Contract for Difference (CfD) that provides long-term price stability. The go-to-market is enterprise and institutional: direct engagement with industrial suppliers through dedicated procurement portals (PGE and Ørsted), supplier registration databases, and Suppliers' Day events; stakeholder dialogue with local fishing communities, government, and media; and transmission of generated electricity to the Polish national grid for downstream distribution. Adjacent services include a supplier registration system, weekly marine operations notices for mariners, and a fishermen compensation scheme for those affected by construction-zone closures.

Name

Baltica

Legal name

Elektrownia Wiatrowa Baltica-2 Sp. z o.o. and Elektrownia Wiatrowa Baltica-3 Sp. z o.o.

Website

https://baltica.energy

Company type

Private

Founded year

2019

Operating status

Operating

Short description

Baltica is a 50/50 joint venture between PGE and Ørsted developing the 2.5 GW Baltica 2+3 offshore wind farm in the Polish Baltic Sea, with first power targeted for 2027 and revenue secured via a 25-year Contract for Difference sold to the Polish national grid.

Ownership category

akta.pro rank

Product category

Offshore Wind Energy

NAICS

Wind Electric Power Generation (221115)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro industry

PRIMARYEUAMACAB

Offshore Wind Project Development & Leasing

Energy, Utilities & Environment/Renewable Energy (Solar, Wind, Hydro & Geothermal)/Wind Energy (Onshore & Offshore)

SECONDARYEUACAFAB

Offshore Wind Power Generation (Fixed-Bottom)

Energy, Utilities & Environment/Electric Power Generation/Wind Power Generation (Onshore & Offshore)

SECONDARYEUACAFAF

Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations)

Energy, Utilities & Environment/Electric Power Generation/Wind Power Generation (Onshore & Offshore)

Keywords

• Offshore wind energy
• Renewable power generation
• Wind farm development
• Clean electricity production
• Energy infrastructure

Headquarters

HQ city

Warsaw

HQ country

Poland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. Electricity Generation and Sales: The offshore wind farm generates electricity from wind turbines and sells power to the national grid. The project has secured a 25-year Contract for Difference (CfD) guaranteeing revenue stability.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Baltica develops and operates offshore wind farms in the Polish Baltic Sea as a 50/50 joint venture between PGE Polska Grupa Energetyczna and Ørsted. The combined Baltica 2+3 project will deliver up to 2.5 GW of installed renewable capacity (Baltica 2 at 1.5 GW and Baltica 3 at approximately 1.0 GW) generating electricity transmitted via export cables to onshore grid infrastructure and sold into the Polish power system under a 25-year Contract for Difference.

Product overview

Baltica is a joint venture (50/50) between PGE Polska Grupa Energetyczna (Poland's largest electricity producer) and Ørsted (global offshore wind leader) developing the Baltica 2+3 offshore wind farm project in the Baltic Sea. Baltica 2 (1.5 GW) is currently under construction with foundation installation underway, while Baltica 3 represents the second phase. The combined project will have up to 2.5 GW installed capacity, powering approximately 4 million homes with clean energy. Supporting services include a supplier registration portal for the domestic supply chain, weekly marine operations notices for sea users, and a compensation system for fishermen affected by construction activities. The project is not a technology software platform but a renewable energy infrastructure development.

Differentiator

Problem solved

Functional benefit

Products and services

• Baltica 2 Offshore Wind Farm 1.5 GW offshore wind farm located approximately 40 km off the Polish coast near Ustka in the Baltic Sea, expected to generate 5-6 TWh annually (enough for about 2.5 million Polish households). Foundation installation began May 2026 with 111 monopiles (107 for turbines, 4 for offshore substations) and first power expected H1 2027, with full commercial operation by end of 2027.
• Baltica 3 Offshore Wind Farm
• Baltica 2+3 Combined Project

Quantifiable outcome

• 2.5 GW installed capacity powering 4 million homes
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• PGE Polska Grupa Energetyczna (PGE)coreStrategic or Co-development Partner · 1 May 2021PGE, Poland's largest electricity producer and heat provider, formed a 50/50 joint venture with Ørsted to develop the Baltica offshore wind farm. PGE Baltica was established in January 2019 to execute PGE Group's offshore program targeting 2.5 GW installed capacity. The partnership combines PGE's local market knowledge and national energy infrastructure expertise with Ørsted's global offshore wind development leadership.
• ØrstedcoreStrategic or Co-development Partner · 1 May 2021Ørsted, the global leader in offshore wind energy, partnered with PGE in a 50/50 joint venture. Ørsted built the world's first offshore wind farm in 1991 and is recognized as the world's most sustainable energy developer. For Ørsted, Baltica is part of their goal to reach 30 GW of installed offshore capacity by 2030.
• Van OordcoreStrategic or Co-development PartnerVan Oord is the contractor responsible for installing the foundations for Baltica 2. The company utilizes installation vessel Aeolus and heavy-lift vessel Svanen for the offshore installation campaign. Van Oord has completed five previous projects with Ørsted and brings proven offshore expertise to ensure safe and timely execution.

Scale indicators9 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Ørsted: Global #1 offshore wind developer and 50% JV parent of Baltica; built the world's first offshore wind farm in 1991 and is the most direct comparable on technology, scale, and project development capability.
• EnBW: German utility developing Baltic Sea offshore wind (EnBW Baltic 1/2, He Dreiht) — directly comparable geography, scale, and project economics to Baltica's Polish Baltic Sea positioning.
• RWE Renewables: Major European offshore wind developer with multiple gigawatt-scale projects under construction (e.g., Dogger Bank, Sofia), offering comparable fixed-bottom offshore wind project development and CfD-backed revenue structures.
• Ocean Winds: EDP/Engie joint venture dedicated to offshore wind (Moray West, Mayflower Wind) — directly comparable JV structure and floating/fixed-bottom project portfolio in European waters.
• PGE Polska Grupa Energetyczna: Poland's largest electricity producer and 50% JV parent of Baltica; directly comparable as the local utility counterparty providing grid access, offtake, and domestic regulatory expertise.
• Equinor: Major offshore wind developer (Hywind floating, Dogger Bank, Empire) with integrated energy major capabilities and similar JV-driven project structures, directly comparable to Baltica's JV model.
• Vattenfall: Swedish state-owned utility developing large-scale European offshore wind (e.g., Hollandse Kust Zuid, Norfolk projects) — comparable state-aligned utility with offshore wind in the Baltic/North Sea region.
• Iberdrola / Avangrid: Through ScottishPower, develops large UK and European offshore wind farms (e.g., East Anglia, Wikinger) and is one of the largest global offshore wind developers, directly comparable in scale and project economics.

Broad incumbents

• EDF Renewables: Develops offshore wind (Fécamp, Saint-Nazaire) as part of EDF Group's diversified renewables portfolio; comparable fixed-bottom offshore wind projects backed by long-term PPAs/CfDs.
• TotalEnergies: Integrated energy major with a growing offshore wind portfolio (Seagreen, Culzean) — operates in offshore wind alongside a much broader conventional and LNG business; comparable on offshore project economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Baltica