Poland has moved up two places to rank 15th in the EY RECAI ranking of the attractiveness of countries to investors in renewable energy sources (RES), mainly thanks to offshore wind farms.

In the 62nd EY RECAI ranking, a compilation of the attractiveness of countries for investors in renewable energy sources, released just before the start of the international COP28 conference, the United States continues to lead the way. Germany is in second place for the second year in a row, followed by China, France and Australia.

The reason for Poland’s further rise in the ranking is offshore wind farms. The construction of the first offshore wind farm, Baltic Power, with a capacity of 1.2 GW, has begun. Its financing for EUR 4.73 billion with a loan of EUR 4.4 billion, is the largest in the history of the market.

Baltic Power, located 23 km off the coast of Leba, is due to be completed in 2026 and will supply energy to around 1.5 million households. With a generating capacity of at least 4,000 GWh per year, it could produce the equivalent of around 3% of Poland’s current electricity production.

EY recalls that further offshore wind farms from the so-called phase 1 offshore in Poland with a total capacity of 4.7 GW are at an advanced stage of development. In addition, an offshore wind farm installation terminal capable of handling and installing wind turbines of 15 MW or more will be built in Świnoujście. Its construction is expected to be completed in early 2025. Ultimately, it will be used not only to support Baltic Power, but also German, Swedish, and Danish investments.

In addition, the Ministry of Infrastructure has completed the process of granting location permits for a further 10 offshore wind farms under the so-called offshore phase 2 with an additional generation potential estimated at 9.5 GW.

Adrian Andrzejewski