Announced today,ÌýNorthland Power confirmed an agreement with Polish oil giant PKN Orlen to acquire a 49% interest in theÌý1140MW Baltic Power offshore wind project, which will be located approximately 23km off Poland’s coast.
There is currently around 2.2GW of installed offshore wind capacity in the Baltic Sea, offshore capacity stands at around 2.2GW. Most of this is in located in Danish and German waters, with 880MW and 1,075MW, respectively.
There are no offshore wind sites yet in Poland or in the smaller Baltic states of Estonia, Latvia, and Lithuania.Ìý
The latest Northland Power investment could change this. The Canadian firm expects to invest around PLN 290 million ($77.8 million) in the Baltic Power project, with the aim to secure a 25-year contract for difference (CfD) offtake agreement.
Recently, the wind farm has secured its location permit, signed a grid connection agreement and has filed its environmental permit.
Construction activities are scheduled to start in 2023, with commercial operations expected in 2026.
Northland’s offshore wind portfolio in Europe currently consists of controlling interests in three operational offshore wind facilities in the North Sea: 600MW Gemini , 332MW Nordsee One and the 252MW Deutsche Bucht projects.
Poland’s draft energy policy has put forward ambitions to add 10-12GW of offshore windÌýcapacity and an additional 15GW of solar capacity on the national grid by 2040.
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