CTVs Hired for Work on Bałtyk 2 & Bałtyk 3 Offshore Wind Farms in Poland

October 28, 2024, by Adnan Memija

MFW Bałtyk II sp. z o.o. and MFW Bałtyk III sp. z o.o. special purpose companies have signed a total of four agreements for the charter of crew transfer vessels (CTVs) for the construction of the offshore wind farms in Poland.

Polenergia and Equinor hold 50 per cent stakes each in MFW Bałtyk II Sp. z o.o. and MFW Bałtyk III Sp. z o.o., the special purpose companies developing the Bałtyk 2 and Bałtyk 3 offshore wind projects.

Each of the project companies has entered into two agreements for two vessels, one with Denmark’s Northern Offshore Services and the other with UK-based Njord Offshore.

The project company for Bałtyk 2 secured a three-year vessel charter, while Bałtyk 3’s project company entered a similar contract with an option to extend until 1 September 2026.

The CTVs will support the process of building the offshore wind farms and offshore transformer stations and provide servicing during the initial period of operation of the projects, including the technological start-up phase.

The expected date of launching the vessel charter is the second quarter of 2026 for Bałtyk 2 and the third quarter of 2027 for Bałtyk 3.

Each of the companies has the option to extend the agreements for another three years.

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The estimated cost for the vessel charter is around EUR 13.5 million for Bałtyk 2 over three years, while for Bałtyk 3, it could reach approximately EUR 13.8 million if the option is exercised.

In the event of extending the contracts for another three years, the shipowners will receive an additional EUR 30 million in total for both offshore wind projects.

The Bałtyk 2 and Bałtyk 3 offshore wind farms received all the required construction permits in August. The two projects will have a total capacity of 1,440 MW and be able to supply over two million households with renewable energy, according to the developers.

The preparatory works on land will begin this year, and the first electricity from both wind farms is expected to flow in 2027, with the projects’ commercial operation scheduled for 2028.