PGE Baltica is about to see a significant advancement in the offshore wind development. Plans are underway to finalize the investment decision for the Baltica 2 offshore wind farm, which is set to generate an impressive 1.5 GW of clean energy. CEO Arkadiusz Sekściński shared the company’s ambitious timeline, aiming to make the final decision within the year.
PAP informed that Sekściński expressed confidence in the project’s progress, stating, “No later than a year from now, we plan to make a final investment decision for the Baltica 2 project.” The company has already taken significant steps, such as signing contracts for turbine supply and offshore transformer stations. Furthermore, the announcement of contracts for offshore cables, foundations, and vessels in the offshore segment of Baltica 2 is expected imminently. With these milestones, the project’s capital expenditures will exceed 50 percent, showcasing the substantial commitment to its successful realization.
To secure the necessary financing, PGE Baltica is exploring the “project finance” formula, aiming to arrange 50 percent of the financing before making the final decision. The company has already noted interest from potential financing partners for this groundbreaking project. In addition, PGE Baltica remains open to collaboration with strategic partners in the offshore sector. While the company is prepared to develop projects independently, they recognize the advantages and benefits of working with a partner, viewing it as a strategic decision at the ownership level.
The recent selection of a consortium comprised of SEMCO Maritime and PTSC Mechanical & Construction to design, manufacture, and commission offshore substations for the Baltica 2 project demonstrates the company’s commitment to engaging industry experts and ensuring the highest standards of quality and efficiency.
PGE Baltica’s momentum in the offshore wind sector has been further bolstered by its success in the permit proceedings for offshore wind farms sites under II phase of Polish offshore wind development. Polish Radio informed that PGE Baltica is relying on the Ministry of Infrastructure to announce the final decision regarding the location of offshore wind farms in the Baltic Sea later this month. In the first stage of granting location decisions, PGE Baltica initially obtained four decisions, and in the second stage it obtained one more, together with Ørsted. The CEO of PGE Baltica Arkadiusz Sekściński made it clear that the company has no plans to challenge the results of the second round of offshore wind location decision-making.
– ‘We have reached a total of 7.3 GW, which is higher than PGE’s current strategy (6.5 GW), so we are satisfied and will focus on implementing these projects,’ he added.
Source: PGE Baltica, PAP, Polish Radio