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.

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

  • Pushed onto the forefront of the political agenda, estimated
    up to 10-12 GW in 2035-2040;
  • Confirmed by direct engagement of the majyor state owned companies
    from the power and oil & gas sector.

3. Regulations in Progress

  • Regulation scheme in place based on auction system and reference
    price level set;
  • To be replaced in 2019 by solutions dedicated exclusively to offshore wind,
    including CfD contracts and supplemented by grid connection support.

4. Cross Industry Economic Justification

  • Strong local content support from surrounding industries such as jackets
    and towers manufacturing, cabling, steel mills and shipyards;
  • GDP & employment potential present strong macro-drivers to solidify
    political support

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