The project companies of offshore wind farm Bałtyk II and offshore wind farm Bałtyk III have signed reservation and pre-work agreements with Iemants for the design and construction of offshore transformer stations, stated Polenergia in a press release.

The booking agreements may be terminated by the companies without cause upon payment of remuneration for the preliminary works performed and cancellation fees to the subcontractors (collectively, “Cancellation Fees”). The Cancellation Fees may amount to up to approximately €65.5 million in total for both Projects. Analogous costs may be incurred by the Companies if, through no fault of the Companies, the Final Agreements are not signed by 1 August 2024, provided that the parties may extend this deadline.

The Bałtyk II and Bałtyk III offshore wind farms are the companies developing the two offshore wind farm projects under the Polenergia and Equinor Wind Power venture. Polenergia holds a 50 per cent stake in them.

This is another important agreement. In February this year, Equinor and Polenergia selected Siemens Gamesa as the supplier of wind turbines for the Bałtyk II and Bałtyk III offshore wind farms located in the Baltic Sea. The two energy companies have signed final contracts for the manufacture, supply and servicing of 100 modern offshore wind turbines. The signed contracts are key to the development of both projects. With a total capacity of 1,440 MW, they will provide green energy for more than two million Polish households and strengthen Poland’s energy security.

Source: Polenergia & BalticWind.EU