Poland’s €4.73 billion offshore wind farm a step closer
14 August 2023
Energy company Orlen has announced a conditional decision to move to the construction phase of the 1.2GW Baltic Power offshore wind farm project, to be situated off the coast of Poland.
Image: Adobe Stock
According to a recent market filing made by Orlen, the construction project carries a value of approximately €4.73 billion.
In May this year, Orlen and its joint venture partner Northland Power began construction work on an onshore substation in the Choczewo municipality of Poland.
This project will allow the Baltic Power wind farm to receive energy generated offshore.
In September las year, Danish turbine manufacturer Vestas signed a conditional agreement with Orlen and Northland Power to deliver 76 V236-15.0 MW wind turbines for the wind farm.
The turbines will be installed by offshore wind construction specialist Cadeler, with the wind farm expected to be operational by 2026.
The special purpose vehicle (SPV) Baltic Power was established to undertake the venture, with Orlen retaining a stake of 51% in the entity.
It is understood that Baltic Power must secure financing and obtain the requisite construction permits, before the final green light for construction of the wind farm is given.
STAY CONNECTED
Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.
CONNECT WITH THE TEAM
