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Canada’s Northland Power to acquire a 49% interest in offshore wind project

Canada’s Northland Power to acquire a 49% interest in offshore wind project

Northland Power of Canada has entered into an agreement with PKN ORLEN to acquire a 49 percent stake in the offshore Baltic Power wind project off Poland in the Baltic Sea.

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Northland Power assumes that the project will allow it to capitalize on the increasing demand for renewable energy in a growing market in Central Europe.

Northland plans to spend approximately CAD100m ($78.2m) in the Baltic Power production in 2021, including the purchase price.

“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,” commented Mike Crawley, Northland’s CEO.

Maritime Business World 

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