The Polish oil and gas group Orlen Group has reached a final investment decision (FID) to build its 1.2 GW Baltic Power offshore wind park, which will be located in the Polish waters of the Baltic Sea, off the coasts of Łeba and Choczewo. Construction is set to begin in 2024, with the wind park expected to comprise 76 Vestas wind turbines with a unit capacity of 15 MW. The project, which is being developed in partnership with Canada’s Northland Power, is set to be commissioned in 2026. Once completed, the Baltic Power project will generate 4 TWh/year of electricity, equivalent to approximately 3% of Poland’s current electricity output, helping to avoid an estimated 2.8 MtCO2/year of emissions.
In June 2021, the project was awarded by the Polish Energy Regulatory Office (URE) with a 25-year Contract for Difference (CfD) to PKN Orlen (51%) and Northland Power (49%). In late September 2023, Orlen and Northland Power had entered into credit facility agreements with a syndicate comprising 25 Polish and international financial institutions to finance the project.
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