A subsidiary of Canadian energy company Northland Power has completed a deal to acquire a 49% stake in PKN Orlen’s 1200MW Baltic Power offshore wind farm off Poland.
NP Baltic Wind has subscribed to shares in Baltic Power after the fulfilment of the conditions precedent, including obtaining merger clearance, PKN Orlen said.
The parties will jointly develop and operate the wind farm, which is applying for a 25-year Contract for Difference (CfD) in Poland’s first 5.9GW offshore wind phase.
Construction work is scheduled to start in 2023 and end in 2026.
The project site, with an area of approximately 131 square km, is located approximately 23km north of the Baltic Sea coastline, in the vicinity of Choczewo and Leba.
PKN Orlen management board president Daniel Obajtek said: “As the cooperation between PKN Orlen and Northland Power has fully come into being, we are opening a new chapter in the development of offshore wind power generation in the Baltic Sea.
“By 2026, we will begin to supply Polish homes with clean energy from the sea, yet the experience and know-how we will have gained while implementing the project are no less important to us.
“In line with the Orlen 2030 strategy, we aspire to become a regional leader in energy transition within the next decade.”