Poland Increases Offshore Market Momentum: Energa Wytwarzanie And Northland Power Establish Offshore Joint Venture

Gdansk, Poland - The expansion of offshore wind energy in Poland is entering the concrete implementation phase. At the end of September 2023, wind turbine manufacturer Vestas received a firm order for the delivery of its flagship V236-15.0 MW turbine for the Baltic Power offshore wind farm.

The project with a total capacity of 1,140 MW will be realised by Baltic Power Sp. z o.o, a joint venture between Orlen S.A. and Northland Power Inc. Now the Polish energy supplier Energa Wytwarzanie, which belongs to the Orlen Group, and Northland Power have announced the establishment of a further joint venture that will focus specifically on maintenance services for offshore wind farms.

Energa Wytwarzanie and Northland Power intend to combine the experience and expertise of their teams under the umbrella of the joint venture. In particular, Energa Wytwarzanie intends to utilise the company's expertise and experience in the operation of onshore wind farms in Poland to offer new services relating to the maintenance and operation of offshore wind farms in the Baltic Sea in the coming years. As a globally experienced company in the offshore wind sector, Northland Power will contribute its extensive experience in the management and maintenance of offshore wind farms.

The new company will offer activities in the areas of technical management of offshore wind farm infrastructure, commercial asset management, health and safety issues and environmental protection, among others.

The Baltic Power offshore wind farm will be the first offshore wind farm in Poland. The project is the largest investment in renewable energy sources in Central and Eastern Europe to date. Vestas will supply 76 offshore turbines with a capacity of 15 MW each for the project. The project site is located 23 kilometres off the Polish Baltic coast near ?eba. Delivery of the wind turbines is expected to begin in the first quarter of 2025, with commissioning scheduled for 2026.

The production potential of wind farms in the Baltic Sea is estimated at more than 30 GW and their utilisation would make offshore wind energy a key element of the energy transition in Poland. The Polish government's goal is to expand offshore wind energy to a capacity of around 18,000 MW (18 GW) by 2040.

The RENIXX Northland Power share is currently trading at EUR 14.82. Compared to the price at the turn of the year, this is a drop of over 40 per cent.

Source: IWR Online, 01 Dec 2023