56th Offshore Breakfast – this time as afternoon cake & coffee event

The 1.14 GW Baltic Power offshore wind project in Poland and its recent EUR 4.4 bn non-recourse project financing – a Case Study

In September 2023, Baltic Power, with sponsors Northland Power and ORLEN, reached financial close as first offshore wind project in Poland. The debt financing is being provided by 25 banks including the European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD) and the export credit agencies EDC (Export Development Canada), Export and Investment Fund of Denmark (EIFO) and Germany’s Euler Hermes as well international and local commercial banks.

Baltic Power is located in the Baltic Sea approximately 22 kilometers off the Polish coast. Once operational, it will play an important role in helping Poland achieve its target of up to 11 GW of offshore wind to be constructed by 2040.

Baltic Power is part of the first 5.9 GW round of offshore wind projects in Poland and obtained a grid connection and a 25-year fixed CfD offtake arrangement. The CfD offtake arrangement is Euro-pegged and includes an inflation indexation mechanism.

The case study will be presented in the form of a panel discussion. Our panel members were part of the core team that helped Baltic Power achieving this milestone:

  • Jarosław Broda, Member of the Management Board, Baltic Power sp. z o.o.
  • Tomasz Bajerski, Project Manager Finance Department, ORLEN S.A.
  • Sieuwert de Zwaan, Director Project Finance, Northland Power Inc
  • Udo Schneider, Managing Director, Green Giraffe
  • Jakob Bergvelt, Director, Green Giraffe
  • Dr. Carla Luh, Partner, Hogan Lovells

Please be aware of the exceptional format as afternoon event, with 5 pm as start date.

Of course, the event is free of charge for you.

We are looking forward to welcoming you!

Your offshore competence team

Hogan Lovells Hamburg

Please click here for your registration.

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