Offshore project companies Bałtyk II and Bałtyk III have signed reservation and preliminary work agreements with Heerema Marine Contractors Nederland SE. The contract covers transportation and installation of offshore wind turbine foundations and an offshore transformer station, said Polenergia in a stock exchange release.

Polenergia has a 50% stake in the two companies, which are developing, as part of a joint venture between Polenergia and Equinor Wind Power AS, projects for the construction of two offshore wind farms, i.e. the Bałtyk II offshore wind farm and the Bałtyk II offshore wind farm.

The subject of the reservation agreements is the commitment of the parties to continue negotiating, in good faith, the final contracts for the transportation and installation of offshore wind turbine foundations and the offshore transformer station, in exchange for the supplier’s reservation of the availability of installation vessels for the implementation of the projects according to the assumed schedule. The reservation agreements also apply to the performance of preliminary work, which will then be covered by the final contracts, if the latter are concluded, the release reads.

The reservation agreements may be terminated by the companies without cause, but this will result in an obligation to pay the supplier for the preliminary work performed, a cancellation fee, as well as cancellation fees and reservation fees to subcontractors. The cancellation fees may amount up to about €29.2 million for both projects, it was also stated.

Analogous fees may be charged to the companies if final agreements are not signed by July 1, 2024, subject to the parties’ ability to extend the deadline.

The Bałtyk II and Bałtyk III offshore wind farms, with a total capacity of 1440 MW, will be located in the Polish exclusive economic zone of the Baltic Sea, between 22 and 37 km from the coastline. After contracting suppliers for all construction elements and obtaining the necessary permits, the implementation phase will begin.

The first energy from the Bałtyk II and III wind farms is expected to flow into the grid as early as 2027. The commercial phase of their operation is planned from 2028. In the next phase of offshore wind power development in Poland, Equinor and Polenergia are developing the Bałtyk I project with a capacity of up to 1,560 MW, which will be about 80 km offshore.

Source: Polenergia and BalticWind.EU