In the coming years, the Polish energy system will undergo a real metamorphosis. Gmina Choczevo should become its energetic heart. Orlen announced that construction of the Baltic Power farm will begin later this year.
The commune Choczevo and its surroundings may become unrecognizable in just a few years. Thanks to huge investments in energy infrastructure, this place will be the turning point of the entire system.
Baltic Power with building permit
The Orlen Supervisory Board has made a conditional investment decision for the offshore wind farm Baltic Power, according to the announcement of the multi-energy group. This is a project created jointly with Northland Power, in which the Polish company owns 51 percent of the shares. stock.
The consent of the Supervisory Board paves the way for the start of construction work, which is scheduled for the end of this year. The special purpose vehicle is currently finalizing construction permits and financing.
“The result of energy transformation is clean, widely available energy and a competitive and modern economy. By 2030, Orlen Group will make a breakthrough in the development of renewable energy, reaching 9 GW of installed capacity. Offshore wind energy will be a key element of this change. We, as regional pioneers in this area, had to do a lot of preparatory and administrative work and develop new competencies that we can use in subsequent projects. Today’s decision is an important milestone that brings us significantly closer to achieving the Group’s strategic goals - emphasizes Daniel Obaitek, Chairman of the Board of Orlen.
Wind farm for PLN 21 billion
Obtaining financing is crucial in this matter, as the value of the investment is estimated at 4.73 billion euros, i.e. just over 21 billion zł. The construction will be financed under the project financing formula. This is a model that assumes debt repayment with funds that will be the financial surplus generated by the wind farm.
According to the company statement, “The construction of the offshore wind farm Baltic Power is one of the key projects of the ORLEN Group to achieve the strategic goal of achieving 9 GW of installed capacity in renewable energy by 2030. The farm will be built about 23 km from the coast, at the heights of Leba and Khochevo, and will consist of 76 modern wind turbines with a unit capacity of 15 MW. With the completion of construction in 2026, the Baltiyskaya Energetika farm will begin to produce electricity that will feed more than 1.5 million households.”
Source: Wprost
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