Poland offshore wind: capitalising on the second wave

A robust legal and regulatory framework underpins this trajectory. Poland’s 25‑year, two‑way CfD, transparent PSZW seabed‑tenure regime and accelerated permitting pathway create a bankable environment for international sponsors and lenders. Late‑2025 amendments—including refined indexation mechanics and enhanced auction operability—further reinforce investor confidence.

With the majority of Phase II seabed rights concentrated in PGE and Orlen Neptun, market entry will centre on joint ventures and corporate transactions. Both state‑controlled sponsors have signalled openness to partnering, creating a significant opportunity for international developers, utilities and infrastructure funds to bring capital depth, delivery capability and supply‑chain expertise.

Looking ahead, the transmission system operator’s draft 2027–2036 Development Plan confirms readiness for up to 18 GW of offshore wind by the mid‑2030s, supported by a north–south HVDC backbone and extensive 400 kV reinforcements. For investors, this grid‑build strategy delivers clarity on long‑term system integration and curtailment risk.

As Phase I projects reach COD, secondary market opportunities are expected to emerge as sponsors consider recycling construction‑phase capital. For long‑term investors seeking de‑risked, yield‑oriented assets backed by 25‑year CfDs, these transactions may provide an attractive complement to greenfield Phase II participation.

For a comprehensive analysis of the legal framework, auction outcomes and strategic opportunities shaping Poland’s offshore wind market, we encourage you to read the full briefing available in the PDF below.