Northland Power acquires 49% stake in Baltic Sea offshore wind farm

Canada’s Northland Power has entered into an agreement with PKN ORLEN to acquire a 49% interest in the Baltic Power offshore wind project in the Baltic Sea off Poland.

Northland Power believes the project will allow it to capitalise on the growth in renewable energy demand in a growing Central European market.

Inclusive of the purchase price, Northland expects to invest approximately CAD100m ($78.2m) towards the Baltic Power development in 2021.

“Today’s announcement reflects Northland’s continued growth and leadership in renewable energy and strengthens our position as a global leader in offshore wind development. We are excited to partner with PKN ORLEN to expand our presence in Europe through the development of the Baltic Power offshore wind project, but more importantly, further contribute to the global decarbonization transition by helping Poland fulfill its renewable energy ambitions,” said Mike Crawley, Northland’s CEO.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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