Peritum Safe Energy is proud to announce a landmark agreement with Baltic Power to develop and implement comprehensive electrical safety protocols for the Baltic Power offshore wind farm. This collaboration signifies a major stride towards our goal of harmonizing electrical safety standards globally within the wind industry.

The Baltic Power offshore wind farm represents a significant milestone in the evolution of Poland’s energy sector. Located approximately 20 kilometers off the Baltic coast, the project will see the construction of an offshore wind farm with a capacity of up to 1.2 GW, set to commence this year.

“We are pleased that Baltic Power has recognized our efforts in standardizing electrical safety rules globally. We are proud to contribute to this crucial project,” said Tomas Winter, Product Manager at Peritum Safe Energy. “This partnership is a significant step towards establishing a unified approach within the wind power industry, enhancing both safety and efficiency.”

The Baltic Power project, in which ORLEN holds over 51% of shares, is Poland’s most advanced offshore wind farm currently under construction. The project’s total budget is estimated at approximately €4.73 billion, which includes around €4.05 billion in capital expenditures with insurance, as well as financing costs and a supplementary reserve.

The project’s financing will follow the Project Finance model, where repayment of liabilities will be based on future financial surpluses generated by the project. This financing model is particularly advantageous for large-scale investments that require substantial capital and extended timelines to achieve full operational capacity, such as offshore wind farms. Moreover, it aligns with the financial strategies outlined in ORLEN’s updated ORLEN2030 strategy.

Baltic Power has secured all necessary construction permits for the onshore components and a permit for constructing an offshore power connection to transmit energy from the farm to the mainland. Contracts have been secured for all key components, including turbines, offshore and onshore substations, cables, and foundations, along with arrangements for their manufacture, transportation, and installation. Obtaining construction permits for the offshore segment remains a key condition for reaching the final investment decision.

The construction of the Baltic Power offshore wind farm is a pivotal project for the ORLEN Group in its pursuit of achieving 9 GW of installed renewable energy capacity by 2030. Situated approximately 23 kilometers from the coast, near Łeba and Choczew, the wind farm will feature 76 state-of-the-art turbines, each with a capacity of 15 MW. Once completed in 2026, the Baltic Power wind farm will generate enough energy to power over 1.5 million households.

Source: Peritum Safe Energy Partners & BalticWind.EU