Baltic Power project
The Baltic Power project to build PKN Orlen’s wind farm in the Baltic Sea in cooperation with the Canadian company Northland Power will positively influence the perception of Poland as a leading investment destination in the region, according to Romi Jaszczynski of the Polish Investment and Trade Agency (PAIH) in Toronto.
PKN Orlen announced the finalization of a partnership agreement with Northland Power on the Baltic Power project, which envisages joint construction and operation of an offshore wind farm on the Baltic Sea, on March 25. As announced at the time, construction is scheduled to start in 2023, and in connection with the project, Northland Power’s subsidiary NP Baltic Wind has acquired shares in Baltic Power.
The Baltic Power project will positively influence the perception of Poland as a leading investment destination in the region. Not only will it contribute to an immediate increase in the number of jobs, but it will also encourage other North American companies to seriously consider Poland as part of their long-term investment strategy,” said Romi Jaszczynski, Business Development Manager, PAIH Toronto, quoted in a press release sent by PAIH to PAP on Thursday.
The cooperation between PKN Orlen and Northland Power is to design, build and operate a wind farm with a capacity of up to 1.2 GW.
PAIH’s office in Toronto was involved in the project’s realisation at a very early stage, having been approached by Northland Power representatives interested in the developing offshore wind energy market in Poland – the communiqué said. It was also mentioned that the Baltic Power project is an important step towards achieving carbon neutrality by 2050.
In our everyday activity we support Polish companies in their international expansion. But also a large part of our work is focused on promoting Poland as an attractive place for investment. We have met with Northland Power representatives many times and provided the company with comprehensive information about the Polish economy, the renewable energy sector, government programmes and special economic zones. We are even more pleased that the project of building a wind farm in the Baltic Sea and the cooperation between Northland Power and PKN Orlen has become a fact – said Zack Labieniec, head of PAIH’s office in Toronto.
As PAIH pointed out, Northland Power plans to invest PLN 290 million this year in the development of the project, with a part of that amount being development spending. The information reminded that “Northland Power is a global power producer, specialising in generating electricity from clean, renewable sources.
Founded in 1987, the Canadian company is a world leader in offshore wind energy. Northland owns and manages a diverse generation mix, including onshore renewables, solar power and efficient natural gas power, the release stressed.
PAIH noted that with further economic development, demand for electricity in Poland will grow steadily in the coming decades. “Additionally, the draft Polish energy policy envisages the need to add 10 to 12 GW of offshore wind capacity and an additional 15 GW of solar capacity by 2040,” – PAIH reported. According to the agency, the joint investment by PKN Orlen and Northland Power “thus paves the way for Poland to develop offshore wind energy and become a regional leader in energy transition over the next decade.”
As PKN Orlen informed in March, the completion of the Baltic Power offshore wind farm is planned for 2026. – Its area, with a total surface of about 131 sq km, is located approx. 23 km north of the Baltic Sea coastline, at the height of Choczew and Łeba.
PKN Orlen stressed earlier that the construction of the offshore wind farm on the Baltic Sea is one of Orlen Group’s key development projects in line with its strategy to develop low- and zero-emission power generation. The company also said that it would allocate PLN 47bn to projects supporting climate neutrality targets by 2030. PLN 47 billion.