Northland and PKN ORLEN finalise partnership for Polish project

In: Windfarms
25/03/2021

NP Baltic Wind B.V. a subsidiary of Northland Power its strategic partnership agreement with PKN ORLEN to acquire a 49% interest in the
Baltic Power offshore wind project being developed off the coast of Poland.

NP Baltic Wind B.V. has subscribed shares in Baltic Power ​after fulfilment of the conditions precedent - including obtaining merger clearance - stipulated in the joint venture agreement
signed in January 2021.

Baltic Power is a mid-development stage project located approximately 23 kilometers offshore from Poland’s coast in the Baltic Sea. The project, which secured its location permit, signed its grid connection agreement as well as filed its environmental permit in 2020.

The parties will jointly develop and operate a wind farm with a total capacity of up to 1.2 GW, which is expected to be supported by a 25-year Contract for Difference (CfD). Construction is expected to commence in 2023 with commercial operations expected in 2026.

“As the cooperation between PKN ORLEN and Northland Power has fully come into being, we are opening a new chapter in the development of offshore wind power generation in the Baltic Sea. By 2026, we will begin to supply Polish homes with clean energy from the sea, yet the experience and know-how we will have gained while implementing the project are no less important to us. In line with the ORLEN2030 strategy, we aspire to become a regional leader in energy transition within the next decade,”
said Daniel Obajtek, President of the PKN ORLEN Management Board.

Currently, Northland has controlling interests in three operational offshore wind facilities in the North Sea,
Gemini, Nordsee One and Deutsche Bucht farms with a total combined gross capacity of approximately 1,200 MW (890 MW net to Northland). Once complete, Baltic Power will substantially increase Northland’s total gross offshore wind capacity in Europe up to approximately 2,400 MW (1,500 MW net).

Northland’s offshore wind portfolio also includes operating and development projects in Asia encompassing the 1,044 MW
Hai Long, 1,000 MW Dado Ocean and 600 MW Chiba projects in Taiwan, South Korea and Japan respectively.

For more information on offshore wind farms worldwide, click here. You can also view projects worldwide on 4C Offshore's Interactive map.

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