Tuesday, September 21, 2021

Baltic Power appoints financial advisor for the project

Baltic Power appoints financial advisor for the project

A consortium comprising Pekao Investment Banking and Green Giraffe has been mandated as financial advisor for the offshore wind farm project Baltic Power. The two companies will be responsible for raising funding for the project, which is due to start in 2024, with commercial operation planned in 2026.

The role of the advisor will be to develop a complete concept of raising funds for the project along with an execution schedule. The consortium will also prepare the required documentation and establish contacts with potential partners.

The consortium we have selected combines two features that are vital to us – in-depth knowledge of the Polish market and a long track record of raising capital for offshore wind projects. Financing large-scale offshore projects is still new to local financial institutions. The combined knowledge and experience of the two companies will help with effective fundraising and will set the course for the financing of similar ventures in the Baltic Sea,’ notes Jarosław Broda, President of the Baltic Power Management Board.

The companies selected in the process have the required expertise and experience in providing financial advisory to energy projects. Pekao Investment Banking is a Polish company with an over 20-year track record of providing comprehensive advisory services focused on developing financial strategies and structuring and implementing fundraising processes for energy and other projects. Green Giraffe is an international financial advisory firm headquartered in Germany, specialising in the renewable energy sector. With its operating history dating back to 2010, the company has been involved in raising finance for projects with a total capacity of over 100 GW, most of them located in Europe. The advisor’s offshore wind experience includes participation in the financing of 14 projects with a total capacity of just under 5 GW.

The 1.2 GW Baltic Power offshore wind project is implemented by PKN ORLEN in partnership with Northland Power of Canada. The project site, with an area of approximately 131 km2, is located about 23 km north of the Baltic coastline, near Łeba and Choczewo.

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Tuesday, March 8, 2022

Tender for the design and construction of the Fast Response Base for the Baltic Power Offshore Wind Farm

Baltic Power announces a tender to select a contractor who will be responsible for, among others, the preparation of documentation and the implementation of an investment process which, once the relevant administrative decisions have been obtained, will enable the execute construction works of the O&M Base which is dedicated to serve the Baltic Power Offshore Wind Farm.


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Wednesday, January 19, 2022

Service port for Baltic Power offshore wind farm to be built in Łeba

Baltic Power has won a lease contract for land at the Łeba seaport to support its offshore wind farm. It will accommodate service facilities to support the wind farm project, scheduled for 2024–2026. During that time, about 70 wind turbines with a total capacity of up to 1.2 GW will be erected in the sea, serviced by a fleet of vessels operating from the port in Łeba.


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Tuesday, December 14, 2021

Baltic Power has held talks with potential suppliers on building supply chain for offshore wind project

Almost 600 representatives of 369 companies and institutions attended a meeting for those interested in collaboration on the Baltic Power project. Building a strong supply chain is now among the crucial steps leading up to the launch of this project, which is of strategic importance to the entire power sector. In line with the project’s schedule, the work will start in 2024 and be completed in 2026.


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