Cadeler continues foray into Polish offshore wind sector

Denmark-based Cadeler has sealed a vessel reservation deal for work on Polish offshore wind farms Baltyk II and Baltyk III.

The BW Group and Scorpio-backed shipowner said the aggregate potential value of the contracts is expected to be between €110m and €130m ($118.5m and $140m). 

The bottom-fixed wind farms, developed by the joint venture of Equinor and Polenergia, will be located in the Polish zone of the Baltic Sea. Each will have a capacity of 720 MW and once finished, provide electricity to more than 2m Polish households. 

Cadeler’s project covers the installation of 100 offshore wind turbine generators, with two ships expected to be utilised in 2027. Other lined-up contractors on the project include Heerema Marine Contractors, Seway 7, Jan De Nul and Hellenic Cables. 

The Oslo and New York-listed Cadeler entered the Polish offshore wind market in a deal with Baltic Power to transport and install 76 offshore wind turbines for the project developed by the PKN ORLEN and Northland Power joint venture. Earlier this year, another contract was secured from Ørsted and PGE (Polska Grupa Energetyczna) for the Baltica 2 offshore wind farm project.

Mikkel Gleerup, CEO of Cadeler, said the Polish market offers great business potential for the company and also makes its first contract with Equinor and Polenergia.