The cooperation covers the preparation, construction and operation of a farm with a maximum total capacity of up to 1.2 GW, which, according to the investment assumptions, will be covered by a 25-year support system. By joining the project, the Canadian group will ultimately take up 49% of the investment as a result of a series of capital increases of Baltic Power. The contract will run for 35 years, after which it will become an indefinite period. The transaction may be finalized after obtaining the consent of the antimonopoly office. Until then, the contract is conditional.
- The selection of a partner for the implementation of an offshore wind farm is a milestone of a pioneering investment process in the region. The combination of our local experience, resulting from advanced preparatory works, with the global know-how of Northland Power will allow us to quickly and efficiently implement the next stages of the investment. We are glad that we have acquired a partner whose business model and vision of energy transformation coincide with the long-term plans of the ORLEN Group. Our cooperation is an important development impulse for the offshore industry, including Polish companies that will participate in the supply chain - said Daniel Obajtek, President of the Management Board of PKN ORLEN.
Northland Power Inc. is a Canadian company listed on the Toronto Stock Exchange with over 30 years of experience in the design, implementation and management of energy projects. Its low- and zero-emission energy assets located on 4 continents include a total of 2.6 GW of operating generation capacity and 1.4 GW of capacity under construction or in an advanced planning process.
The construction of an offshore wind farm in the Baltic Sea is one of PKN ORLEN's key development projects, which is in line with the Company's strategy to invest in low- and zero-emission generation sources. Works on the development of offshore wind energy are carried out by the Concern through the company Baltic Power, which holds a concession for the construction of wind farms with a maximum total capacity of up to 1.2 GW. Its area, with a total area of approx. 131 km2, is located approx. 23 km north of the Baltic Sea coastline, at the height of Choczewo and Łeba.