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Poland: Cadeler strengthens position in Polish offshore wind market after securing vessel reservation agreements with two Equinor and Polenergia JVs


13 May 2024

Photo - see caption

Cadeler has secured vessel reservation agreements with both MFW Baltyk II and MFW Baltyk III, each a joint venture project owned 50% by Equinor and 50% by Polenergia, marking the first contract between the parties. The aggregate potential value of the contracts to be negotiated during the pendency of the vessel reservation agreements is anticipated to fall within the range of EUR 110-130 million. Operations are scheduled to commence in 2027.

The Baltyk 2 and Baltyk 3 projects are wind farms situated in the Baltic Sea, approx. 27 and 40 km from the port of Leba, respectively. The projects entail the installation of 100 offshore wind turbine generators (WTGs) in the Polish Baltic Sea. Cadeler will utilize both an O-Class and a P-Class vessel, demonstrating the company's fleet depth, flexibility and ability to adapt to client needs.

WTG installation is set to begin in 2027. Once operational, these wind farms are projected to generate a combined capacity of 1440 MW, providing electricity to over two million households.

Mikkel Gleerup, CEO of Cadeler, says: 'We’re pleased to announce yet another contractual milestone in Poland. The Polish market offers great business potential for Cadeler and we’re proud to help our partners accelerate the transition towards sustainable energy for more than two million households. This also marks our first contract with Equinor and Polenergia, setting the stage for new successful future partnerships'.

The aggregate potential value of the contracts to be negotiated during the pendency of the vessel reservation agreements is anticipated to fall within the range of EUR 110-130 million.

Original announcement link

Source: Cadeler





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