Poland: With €600 million loan, EIB is the main financier behind new offshore wind farm
The European Investment Bank (EIB) will contribute €600 million and become the largest lender to the construction of BC-Wind, a 390 MW offshore wind windfarm in the Baltic Sea set to supply nearly half a million Polish households and businesses with clean power. Developed by Ocean Winds, an ENGIE and EDPR joint venture, the wind farm will sit over 20 kilometres off Poland’s western coast and is expected to start production in 2028. It marks the fourth major offshore project backed by the EIB in Poland, and the third one signed in the country just this year.
“The EIB’s persistent commitment to supporting climate, economic competitiveness and Europe’s strategic sovereignty stands behind this beneficial, long-term loan for the construction and operation of BC-Wind, a new offshore wind project in the Polish economic zone in the Baltic Sea. As the climate bank of the European Union, the EIB is a trusted partner of ambitious energy transition in Poland from renewable sources to grid modernisation to energy efficiency and affordability. The latest addition to Poland’s rapidly growing offshore wind industry, BC-Wind will help reduce Poland’s carbon emissions and ensure energy security for people and businesses,” said EIB Vice-President Teresa Czerwińska.
BC-Wind will consist of 26 bottom-fixed turbines, each with a maximum capacity of 15 MW. Ocean Winds has already secured all of the required permits, as well as a 25-year contract for difference to underpin future sales. On Dec.1, the company announced the sealing of an around €2 billion financing agreement with 15 lenders, which means construction can start in 2026.
Read full announcement (external link)
Originally published on 1 Dec
Announcements are published as a service to readers. The sender is responsible for all content. Announcements for publication can be submitted to announcements@thehanseatic.com.
