Polish oil and gas company Orlen has taken the final investment decision (FID) on the 1.2GW Baltic Power offshore wind farm in the Baltic Sea.
The FID indicates that all the necessary construction permits have been received, all major components contracted, and that funding has been obtained.
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The project is being built by Orlen in partnership with Canada’s Northland Power. Expected to become operational in 2026, the offshore wind farm will generate 4,000 gigawatt-hours of clean energy – enough to meet the needs of 1.5 million homes while enabling 2.8 million tonnes of CO₂ savings annually.
Baltic Power will feature 76 Vestas V236-15.0 MW wind turbines.
In September 2023, the Danish turbine maker received a firm order from the developers. Vestas also agreed to service the turbines.
Each turbine will be 250m high and have the capacity to generate 15MW of clean energy.
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By GlobalDataThe power will be transmitted to an onshore substation in Choczewo municipality, which is currently under construction.
Overall investment in the project is estimated at €4.73bn ($4.97bn).
In September 2023, the developers Orlen and Northland Power secured credit facilities from a syndicate of 25 Polish and international financial institutions. This helped the companies secure up to 80% of the total estimated capital costs.
Orlen CEO and management board president Daniel Obajtek stated: “We stand at a pivotal point, both for the Orlen Group and the broader energy sector in Poland. Our commitment has led us to embark on the most significant project to develop renewable energy in our country and the entire region.
“Notably, the Baltic Power offshore wind farm represents one of just two such projects in Europe to progress to the implementation phase over the past three years. Despite the formidable challenges posed by the pandemic, supply chain disruptions and military conflict across our eastern border, we have adhered to the ambitious timeline we set from the outset.
“Within three years, we will launch the first offshore wind farm in Poland, but our aspiration is to use our experience and newly established infrastructure to implement further projects.”
