Poland's Offshore Wind Support to Reach 144 Billion Euros
WARSAW (Reuters) - The cost of supporting Poland's plans to build 17.9 gigawatts (GW) of offshore wind capacity will be about 144.2 billion euros ($152 billion), the PAP newswire reported citing a draft climate ministry resolution.
The climate ministry did not have an immediate comment.
Poland said it would raise the price it will pay for wind power from new Baltic Sea projects next year after investors said the initial price was too low to meet government targets.
The price will also vary according to the distance of the project from shore.
In the first phase, investors, including PGE, Orlen, Equinor and Orsted are developing 5.9 GW of offshore capacity along the Polish coast set to come online by 2030.
Auctions for 12 GW projects in the second phase are planned to start in 2025.
($1 = 0.9499 euros)
(Reporting by Marek Strzelecki; editing by Jason Neely)
