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Northland Power Inc. has announced that it has entered into an agreement with PKN ORLEN S.A. to acquire a 49% interest (subject to regulatory approvals) in the Baltic Power offshore wind project in the Baltic Sea, with a total capacity of up to 1200 MW of offshore wind generation.
Baltic Power is a mid-development stage project located approximately 23 km offshore from Poland’s coast in the Baltic Sea. The project, which secured its location permit, signed its grid connection agreement as well as filed its environmental permit in 2020, allows Northland to capitalise on the growth in renewable energy demand in a growing Central European market. Inclusive of the purchase price, Northland expects to invest approximately PLN 290 million (CAN $100 million) towards the Baltic Power development in 2021, of which, some of this amount represents development expenditures that will be spent throughout 2021.
Northland Power moves into Baltic Sea offshore expansion
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