With the EU Offshore Renewable Energy Strategy, the European Union has put a clear emphasis on developing of this sustainable energy sector. And Europe is on a good path, already being the leader in offshore wind energy production and home to some of the largest operational wind farms worldwide.
Baltic Power is a key offshore wind farm construction project in the Polish part of the Baltic Sea and will serve as a cornerstone for the transition towards more sustainable energy production in Poland.
Client:
Baltic Power
Product:
Project financing
Use of funds:
Construction of 76 off-shore wind turbines
About the project:
Baltic Power’s offshore wind farm aims to construct 76 state-of-the-art wind turbines, each with a generating capacity of 15 megawatts (MW). In total the project targets a generation capacity of around 1140 MW. The project will be a major step forward for Poland’s sustainable energy transition and energy security.
The project is being realized through a partnership between the ORLEN Group and Northland.
The ORLEN Group is the largest fuel and energy company in Central Europe. Its power generation assets have a total capacity of 3.4 gigawatts (GW), including 649 MW in renewable energy sources. By 2030 the group plans to hold a portfolio of renewable energy sources with a total capacity of 9 GW.
Northland is a Canadian global power producer dedicated to accelerating the clean energy transition. Northland owns or has an economic interest in 3GW of operating capacity, including three offshore wind farms in the North Sea, and a significant inventory of early to mid-stage development opportunities encompassing over 14GW of potential capacity.
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