Equinor is investing more in Poland – and buying the wind farm

Equinor is investing more in Poland – and buying the wind farm

The Wilko wind farm is located in Wielkopolska County and will be operated by Equinor’s Polish subsidiary, Winto.

It is being purchased from Helios Group, but the purchase price has not been disclosed.

The wind farm will be Equinor’s first onshore farm in Poland, and will be part of the company Produce portfolio and contribute to cash flow instantly. Total annual production is estimated at 105 gigawatt-hours of energy, which is equivalent to the consumption of about 50,000 Polish households, according to the energy giant.

– Through subsidiary Wento, we have already built a strong solar portfolio in Poland. By expanding our portfolio to also include onshore wind power, we are developing Wento into a renewable energy producer across different technologies, says Equinor’s Onshore Renewables Operations and Markets Director Olaf Kolbenstveit.

renewed explosion

Although Equinor has made billions in profits in recent quarters, things are not going well in the renewable energy sector. In the first half of 2023, they lost a total of $180 million, which is equivalent to 1.8 million crowns.

In its second-quarter report, Equinor wrote that the weaker result was mainly due to lower electricity prices and higher costs on projects in development — including Baltic offshore wind projects off the coast of Poland.

Equinor is also facing the same issue with wind projects in Asia and the UK.

Over the next four years, Equinor will invest NOK 200 billion in renewable energy, most of which will be wind energy. Equinor is also involved in solar energy, battery storage, hydrogen and carbon capture.

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away from coal

The energy produced from the Wilco wind farm will be handled by Equinor’s trading subsidiary Danske Commodities, which has more than a decade’s experience in the Polish energy market.

“Typically, solar and onshore wind have complementary production characteristics, so solar can offset reduced wind production, and vice versa. Combining the two technologies can thus provide more reliable power production, reduce portfolio risk and create more value,” writes Equinor. .

Most of Poland’s energy production comes from coal, and Equinor will help diversify energy sources, as well as enhance Poland’s energy security.

– With this agreement, we can expand our broad energy offer, which includes gas supply via the Baltic Pipeline, large-scale offshore wind projects, solar energy, and now also onshore wind energy, says Michal Jerzy Kolodziejczyk, Country Director of Equinor in Poland.

Hanisi Anenih

Hanisi Anenih

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