Poland’s largest private energy group is preparing strategic offshore renewable energy projects that will support the country’s energy security and independence. Polenergia, whose consolidated revenues after three quarters of 2025 amounted to PLN 3.232 billion (up 7% y/y), is developing energy sales through PPAs, alongside other green energy sources such as onshore wind farms and photovoltaic farms.
In line with the Polenergia Group’s strategy for 2025-2030, we are focusing on development in promising areas of the renewable energy sector, which is intended to support the creation of value for shareholders while generating attractive rates of return and stable financial results. We see these opportunities in the development of offshore projects, which are a key element of the entire Polish energy system. We are convinced that only offshore wind energy, a large-scale energy source, can realistically fill the gap left by the closure of old power units in the short term. Offshore is becoming part of the long-term economic strategy and offers a real opportunity to strengthen the country’s energy security. Polenergia and Norway’s Equinor are jointly implementing Baltic 2 and 3 – projects with a total capacity of 1.44 GW, which will deliver their first energy in two years, with full commercial launch planned for 2028, says Adam Purwin, President of Polenergia S.A.
After three quarters of 2025, the Polenergia Group’s revenues amounted to PLN 3.232 billion and were higher by PLN 215.7 million y/y, due to, among other things, higher revenues in the trading and sales segment (by PLN 372.7 million). Despite pressure from falling electricity and green certificate prices, as well as unusually low wind conditions in Q1 2025, the Group’s EBITDA amounted to PLN 402.1 million and adjusted net profit to PLN 54.7 million. In May, a record-breaking project finance deal exceeding EUR 6 billion was finalized in the history of the Polish energy sector.
The results for the first nine months also include one-off costs related to the finalization of offshore project financing. Considering the challenging market conditions in which we operate, we consider these results to be solid and in line with our expectations. In addition to offshore projects, we will continue to expand our onshore wind power generation capacity in Poland, as well as photovoltaic projects with energy storage facilities. As an energy company, we are convinced that Polish energy can be clean, safe, and independent. That is why we are developing activities related to the Polish green energy transition process, using innovative solutions that support the efficiency of energy production from renewable sources, comments Piotr Sujecki, Vice President for Finance at Polenergia S.A.
The Polenergia and Equinor projects will be among the first to be developed as part of the first phase of the Polish offshore program. The investments are proceeding according to schedule. The Bałtyk 1 project is being prepared to participate in the December auction. The auction is expected to be a watershed moment for the energy sector. The winners of the auction will obtain contracts for difference (CfDs) guaranteeing a stable price for the sale of energy from offshore wind farms for 25 years. In return, investors commit to building further projects and supplying energy to the national grid. This mechanism allows for the planning of investments worth billions of euros without the risk of sudden market changes. The successful completion of the auction will enable the country to maintain the pace of its energy transition.
This is the last chance to make key decisions, as sources that currently cover 15% of Poland’s annual electricity demand are to be phased out by 2032. Some of the decommissioned capacity will be replaced by newly built power plants fueled by imported natural gas, but in reality, in the next few years, only offshore wind farms will be able to cover the shortfall in the national power system. It is estimated that after the completion of the offshore wind farms currently under construction and the commissioning of further farms selected in the auction planned for December this year, the newly built offshore power plants will be able to cover approximately 20% of the country’s electricity demand, adds Adam Purwin, President of Polenergia S.A.
Long-term PPAs are also part of Polenergia’s strategy. In recent months alone, the company has secured contracts with KGHM (for approximately 42 GWh) and Leroy Merlin and Bricoman (for a total of 45 GWh per year). Through these types of agreements, Polenergia sells renewable energy directly to customers from the group’s 13 wind farms and 8 photovoltaic farms. The total capacity of onshore renewable energy sources is 642 MW.
Source: Polenergia
