Cadeler enters Polish offshore market

Cadeler will transport and install 14MW Siemens Gamesa wind turbines to the Baltica 2 wind farm, the first stage of the Baltica Wind Farm owned by Polska Grupa Energetyczna (PGE).

Baltica 2 is scheduled to generate 1.5GW by the end of 2027, and will be installed 25km from the coast in the Polish part of the North Sea between Leba and Ustka.

“The project marks a very important milestone for Poland as well as for Cadeler, as this underlines Cadeler’s strong entry into the Polish market,” said Cadeler CEO Mikkel Gleerup.

Cadeler is also building two more installation vessels, Wind Peak and Wind Pace, P-class newbuilds that will help accelerate installations in a market where installation vessels are in short supply.

The vessel builds will be funded by a ‘green loan facility’ of €425 million, a Sinosure-backed facility from a group of banks including Santander, Credit Agricole, HSBC, the Overseas-Chinese Banking Corporation, Standard Chartered and Societe Generale.

The vessels will be built in Qidong, China, and should be delivered later this year and next.

“The strong group of Nordic and Global banks securing a green loan facility for our P-class new build vessels once again underlines the trust in Cadeler’s vision and capability to accelerate the renewable transition. We are now the global leader in jack-up offshore wind installation with a strong strategic position in the market,” said Gleerup.