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Orlen and Northland secure C$5.2bn in Poland

Richard Heap
September 19, 2023

Polish utility Orlen and Northland Power have secured a C$5.2bn ($3.9bn) credit deal to support their 1.1GW Baltic Power offshore wind project in Poland.

Orlen and Northland are developing the project in a 51:49 joint venture, and have secured the C$5.2bn ($3.9bn) funding from a consortium of 25 international and local commercial banks. The development's total capital cost is C$6.5bn ($4.6bn) and it is due to reach financial close "in the coming days".

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