Cadeler Expands in Polish Offshore Wind With New Vessel Deal
Cadeler, a prominent player in the offshore wind industry, has recently announced the signing of a Vessel Reservation Agreement (VRA) with Ocean Winds. This agreement solidifies Cadeler’s role in the installation of wind turbine generators (WTGs) at the BC-Wind offshore wind farm, strategically located in the Polish Baltic Sea. This project is not only a testament to the company’s growth trajectory but also highlights Poland’s burgeoning offshore wind market, which is rapidly becoming a significant player in Europe’s green energy landscape.
The Vessel Reservation Agreement, a critical step towards formalizing the collaboration, sets the stage for the negotiation of a contract estimated to be valued between EUR 48 million and EUR 56 million. This financial projection underscores the substantial investment being directed towards renewable energy infrastructure in Poland, reflecting the country’s commitment to diversifying its energy mix and reducing carbon emissions.
Cadeler will deploy one of its state-of-the-art O-class vessels for this project, showcasing the company’s advanced capabilities in offshore wind turbine transportation and installation. The project, slated for completion in 2028, will involve the installation and transportation of approximately 30 WTGs. These turbines will significantly contribute to the overall capacity of BC-Wind, which is designed to generate up to 500 MW of clean energy. Situated about 23 kilometers from the Polish coastline, north of the Pomeranian Voivodeship, the wind farm is strategically positioned to harness the Baltic Sea’s robust wind resources.
BC-Wind marks Ocean Winds’ first venture into the Polish market, signaling a broader trend of international investment into Poland’s renewable energy sector. Mikkel Gleerup, CEO of Cadeler, expressed enthusiasm about the partnership, stating, “We are happy to embark on a new partnership with Ocean Winds, leveraging our expertise and resources to further strengthen our Polish pipeline. Poland has become a significant player in the offshore wind market, and we look forward to once again be working in the Baltic Sea contributing to the development of offshore wind energy in the region.”
Cadeler’s Strategic Growth in Poland
The VRA with Ocean Winds is a continuation of Cadeler’s strategic expansion into the Polish offshore wind market, reinforcing its position as a key player. This latest agreement builds upon a series of significant projects that have established Cadeler as a leader in offshore wind installation in Poland.
In October last year, Cadeler secured firm contracts with joint ventures between Equinor and Polenergia for the installation of two major offshore wind farms, Bałtyk 2 and Bałtyk 3, also located in the Polish Baltic Sea. These projects, set to commence operations in 2027, are pivotal in enhancing Poland’s renewable energy capacity and reducing its dependence on fossil fuels.
Earlier, in February, Cadeler partnered with Ørsted and PGE Polska Grupa Energetyczna to transport and install Siemens Gamesa 14 MW wind turbines at Baltica 2, part of the expansive Baltica Offshore Wind Farm. This project, scheduled for completion by the end of 2027, represents another critical milestone in Cadeler’s portfolio, further consolidating its market position.
The momentum continued in July 2023, when Cadeler signed a contract with Baltic Power to install 76 Vestas 15 MW offshore wind turbines at the Baltic Power offshore wind farm. This ambitious project, with installation work beginning in 2025 and expected completion in 2026, will add a significant 1.2 GW of capacity to Poland’s renewable energy grid.
Cadeler’s Fleet and Technological Edge
Cadeler’s extensive experience and capabilities are supported by its impressive fleet, which includes six operational jack-up vessels and five newbuilds slated for delivery in the coming years. These vessels are specially designed for the complexities of offshore wind turbine installation, ensuring efficient and timely project execution. The deployment of one of Cadeler’s O-class vessels for the BC-Wind project exemplifies the company’s commitment to leveraging cutting-edge technology to support Poland’s green energy transition.
The expansion of Cadeler’s fleet is indicative of the company’s strategic foresight in anticipating the growing demand for offshore wind energy solutions. As countries across Europe accelerate their commitments to renewable energy, Cadeler is well-positioned to capitalize on these opportunities, further establishing its reputation as a leader in the sector.
Poland’s Offshore Wind Ambitions
Poland’s offshore wind sector is poised for rapid growth, with the government targeting up to 11 GW of offshore wind capacity by 2040. This ambitious target aligns with the European Union’s broader goals for carbon neutrality and reflects Poland’s strategic shift towards sustainable energy sources. Projects like BC-Wind are critical components of this strategy, showcasing Poland’s commitment to becoming a leader in energy.
The Polish Baltic Sea offers favorable conditions for offshore wind development, including strong wind resources and relatively shallow waters, which facilitate turbine installation. As more international players like Ocean Winds invest in Poland, the country is expected to emerge as a hub for offshore wind innovation and technology.
