ECONOMY[1]

Construction of offshore wind power stations is a capital-intensive process, lasting approx. 7-9 years. Additionally, the farm exploitation time should be added, estimated at a level of approx. 25 years. Such an investment causes long-term, high-cost orders. Cooperation with Polish companies will ensure their development and a stable, long-term cooperation. Additionally, many new companies will appear in this sector which will be vital for the functioning of the entire project.

Experts agree that the construction of an offshore wind farm will positively impact the development of Polish economy. Thanks to this investment, in the years 2019-2030, Polish GDP may increase by approx. 60 billion PLN. In this amount:

  •        21 billion PLN is direct income generated by investments,
  •        22 billion PLN is indirect income that is generated by new undertakings by companies from the offshore wind power value chain, possible thanks to the primary investment.
  •        17 billion PLN is a so-called induced income – value generated in the remaining branches of the economy by the profits of employees employed in the offshore wind power value chain.

Almost 47 billion PLN may be generated by the whole of operations related with preparation and implementation of the investment. The other 13 billion PLN may result from additional export initiated by Poland-based companies from offshore wind power value chain, operation and maintenance activity of offshore wind farms as well as investments in power infrastructure onshore.

The majority of added GNP value may be generated in two value chain areas:

  •        construction of rotor elements (mainly the blades),
  •       construction of foundations and related to structure erection.

Construction of towers and offshore transformer substations are other key areas in terms of employment.

Construction of offshore wind farms may yield as much as 15 billion PLN from taxes until 2030. They will mainly include income from VAT and CIT related with transactions and operation of companies from the value chain based in Poland. Moreover, almost 2 billion PLN may be payable to the Polish budget for PIT and location fee. Total income may equal almost 1% of total 10 year budget income.

Inter-sectoral flows and their impact on the economy.

Offshore wind power may encourage development of shipbuilding industry. It will be necessary to construct ships for erection and servicing of the farms, as well as to manufacture key elements of the farms themselves (towers, turbines and foundations). The planned investment may impact heavy industry sector and extraction sector because the two main resources used for construction of offshore wind farms include steel (mainly for towers and foundations) as well as copper (for internal and export cables).


1. Sources: McKinsey & Company report