About BBM

BBM Offshore (Poland) is dedicated to supporting development of the offshore wind energy sector and the supporting value chain and local economy in Poland through strategic and development services alongside potential investors interested in the emerging Polish Offshore Wind market.

Specific focus and experience includes working with international and local stakeholders, M&A, strategy, development, all aspects of Due Diligence across the entire project development process, as well as the comprehensive market analysis.

Based between Gdansk and London, BBM Offshore (Poland) is active across the whole development project life cycle.

Most recently BBM Offshore (Poland) was the exclusive strategic advisor to Northland Power Inc for 2.5 years which culminated with their JV with PKN Orlen for the 1.2GW Baltic Power Project signed in February 2021: https://renewablesnow.com/news/northland-joins-pkn-orlen-in-12-gw-polish-offshore-wind-project-729567/. This was the second major Offshore Wind JV in the Polish Baltic at the time (after Polenergia & Equinor), continuing the BBM credentials in the space. Our role centred on the origination of the opportunity, Northland positioning, generic transactional/M&A advice, due diligence supervision & review, development/technical & regulatory insight as well as negotiation assistance until signing/closing to achieve a notable continuation of Northland’s European Offshore wind strategy from Holland & Germany into Poland and the wider Baltic Sea.

BBM is delighted that the Baltic Power project secured the first Polish Offshore Wind Financial Close for cEUR4bn with 25 international lenders/ECAs.

Polish OWE market

The Polish Offshore Wind market emerging out of a heavily coal dependent economy, and some years of distress within the Polish renewable space, offers unique investment opportunities with the following characteristics:

1. New emerging offshore wind market in Europe

  • The biggest location potential within the Baltic Sea region;
  • Presenting favourable wind, marine and geotechnical conditions;
  • A key part of the future diversified Polish energy mix;
  • Finding strong support from the Government, local communities
    and upcoming revised energy policy.

2. Significant Pipeline available under solid regulatory regime

  • 6GW of offshore capacity developed under bilateral 25 year CFD;
  • Potential for further 27GW identified which will likely be secured via CFD auctions and the large scale PPA offtake market already liquid in the onshore renewables space.
     

Areas dedicated to the Polish OWE

Polish offshore wind areas:

  • Polish Exclusive Economic Zone of the Baltic Sea offers about 2000 km2
    favourable for offshore wind farms;
  • Areas dedicated for offshore wind are located at least 12Nm from the sea shore,
    which minimizes conflicts with local communities in the coastal zone, incl. touristic
    sector and coastal fishery;
  • Locations do not interfere with Natura 2000, marine traffic routes, military,
    oil & gas concessions