A consortium comprising Pekao Investment Banking and Green Giraffe has been mandated as financial advisor for the offshore wind farm project Baltic Power. The two companies will be responsible for raising funding for the project, which is due to start in 2023, with commercial operation planned in 2026.
The role of the advisor will be to develop a complete concept of raising funds for the project along with an execution schedule. The consortium will also assist in the preparation of the required documentation and establish contracts with potential partners. The advisor’s offshore wind experience in raising offshore wind non-recourse project finance debt is founded on close to 30 projects with a total capacity of approximately 9 GW.
The 1.2 GW Baltic Power offshore wind project is implemented by PKN ORLEN in partnership with Northland Power of Canada. The project site, with an area of approximately 131 km2, is located about 23 km north of the Baltic coastline, near Łeba and Choczewo.
