05 Aug 2020
Posted in Power
Revised Poland offshore wind act to usher new investment in renewable infrastructure, says GlobalData
Before the impact of the pandemic, Poland formulated a draft offshore wind policy that saw 4.6GW of offshore wind capacity offered through fixed-price contracts for difference (CFDs) by 2022. The nation expected over 10GW of capacity to be granted by 2028. GlobalData believes that the pandemic has allowed the nation to shift away from coal-based generation, while the Contract for Difference (CfD) model is predicted to incentivize investments and stabilize future revenue streams.
Somik Das, Senior Power Analyst at GlobalData, comments: “As of now, there are no operational offshore wind projects in Poland. Although the country’s National Energy and Climate Plan (NECP) recognized offshore wind is key to fulfilling its goals for renewable energy for 2030 – and it is included within the Energy Policy until 2040 – GlobalData predicts that achieving 10GW by 2028 is over-optimistic. As the sector is still in its nascent stages, the target timeframe would mean massive installations in the next couple of years, which seems a stretch.”
The revised offshore wind policy draft highlights that investors will be responsible for building and financing the connection between wind farms and the onshore grid.
Das added: “This is comparative to the UK’s CfD model. The capacity increment in phase 1 reflects the genuine potential of advanced-stage ventures in the pipeline. GlobalData suggests that key projects such as the 1500MW Baltyk I and Baltica 2 projects are in the permitting phase, whereas others like Baltyk Srodkowy III, C and B-Wind Offshore Wind Projects are anticipated to be operational by 2025. Hence, the potential is present with the country to grow in the segment.”
If you would like to know more, please send your questions to Rebecca Panks, PR Executive at GlobalData (firstname.lastname@example.org)