(Yicai Global) May 18 -- Orient Wires & Cables, a Chinese power cable manufacturer, has gained a nearly CNY350 million (USD50 million) supply contract for the Baltica 2 offshore wind farm in Poland.

The land and subsea cable maker penned an agreement with Polska Grupa Energetyczna, a Polish energy producer, and Orsted, a Danish wind farm developer, to supply undersea cables with Rated Voltage 66 KV and supporting components to the project in the Polish part of the Baltic Sea, the Ningbo-based firm said in a statement yesterday.

The Baltica 2 wind farm is planned to be ready by 2027 and the full capacity should be 1.5 gigawatts, according to public information. 

The contract should impact the future earnings of Orient Wires & Cables' in a positive way value and it equals 5 percent of its audited business revenue for last year, the firm said, without disclosing details about the timetable. The deal shows that the quality of the firm's products has been recognized by mainstream wind power developers in Europe, it added.

This is not the first Chinese supplier in the project as another cable maker, Zhongtian Technology, said on May 15 that it will supply EUR159 million (USD172.3 million) of 275KV high-voltage submarine cables to Baltica 2. Delivery will start in June and should be completed by April 2026.

The deal failed to boost Orient Wires & Cables' stock price [SHA: 603606] as its shares closed at CNY53.60 (USD7.76) , up 0.19 percent.

Editor: Emmi Laine, Xiao Yi