Obtaining a contract-for-difference is a key milestone for project development, bringing it closer to the final investment decision (FID) and recognizing B&C-Wind as one of the most developed offshore wind projects in Poland;
The wind farms are located in the Exclusive Economic Zone of Poland’s Baltic Sea, approximately 23 km offshore;
B&C will bring a solid contribution to the development of a Polish energy sector transitioning towards climate neutrality.
Ocean Winds (OW), a 50-50 offshore wind joint venture owned and created by EDP Renewables and ENGIE, has secured a 25-year contract-for-difference (CfD) for 369.5 MW awarded by the Polish Energy Regulatory Office, for the B&C-Wind offshore projects. Obtaining a CfD is a key milestone for project development, bringing it closer to the final investment decision (FID), and recognizes B&C-Wind as one of the most developed offshore wind projects in Poland.
The project site is located in the Exclusive Economic Zone of Poland’s Baltic Sea, approximately 23 km offshore. The offshore wind farms will cover an area of 90 km2 with water depths varying from 30 to 60 meters.
In accordance with ordinance of the Ministry of Climate and Environment in Poland and the law on promoting electricity production in offshore wind farms, the CfD strike price is set at 319.60 zlotys (PLN) per MWh corresponding to €71.0/MWh (at current EUR/PLN of 4.50).
Following this successful development in Poland, OW has now 0.5 GW of operating gross capacity and 3.2 GW of secured gross capacity to be installed from 2021 onwards, totalling 3.7 GW of operating and secured gross capacity.
Ocean Winds recognizes strong fundamentals and dynamic growth of Poland’s offshore wind market making it one of the main priorities in company’s pipeline. It is also perfectly suited to OW’s profile as an early mover aiming to create value from the beginning of a project’s lifetime.
B&C will provide a solid contribution to a Polish energy sector transitioning towards climate neutrality. It will also enhance the strategic energy supply security by reducing the country’s dependence on fossil fuels import. Offshore wind energy has been defined as one of the key element of Poland’s energy policy until 2040 (PEP 40) and OW wishes to play an important role in the policy implementation.