Bank Gospodarstwa Krajowego and Polenergia S.A. have signed a loan agreement from NRP funds for the construction of offshore wind farms. The financing will amount to PLN 750 million and will be used to build two wind farms with a total capacity of 1440 MW.
On 18 December 2024, Bank Gospodarstwa Krajowego and Polenergia S.A. signed a loan agreement from the funds of the National Recovery Plan. The funding of PLN 750 million will be used to secure contributions to the Bałtyk 2 and Bałtyk 3 offshore wind farm projects. Earlier, Polenergia successfully carried out a PLN 750 million green bond issue for this purpose, of which BGK’s own funds covered bonds with a nominal value of PLN 142 million.
– We are at the threshold of implementing projects of strategic importance not only for the Polenergia Group, but also for the whole country. Offshore wind farms are an opportunity to strengthen Poland’s energy security and, at the same time, a significant step in the process of decarbonising the energy sector and a better green future for us and future generations. In recent months, we have secured financing for these projects totalling PLN 1.5 billion. The issue of green bonds and the use of NRP funds thanks to the agreement with BGK bring us significantly closer to their implementation – says Dominika Kulczyk, Chairman of the Supervisory Board of Polenergia S.A.
Offshore wind farms Bałtyk, developed by the largest Polish private energy group Polenergia – in cooperation with Norwegian Equinor – are one of the largest infrastructure projects in the history of Poland. In total, they will have a generating capacity of up to 3,000 MW, which will allow 4 million households to be supplied with green energy.
In the first phase, the Bałtyk 2 and Bałtyk 3 farms are being developed, with a total capacity of up to 1440 MW. The first electricity will flow from them into the grid as early as 2027, with the commercial phase of their operation to begin in 2028. Both projects will be located in the Polish Exclusive Economic Zone of the Baltic Sea in the area designated in the Maritime Spatial Plan in the region of Słupsk Shoal, Central Shoal.
– Bank Gospodarstwa Krajowego is responsible for the distribution of more than PLN 130 billion, i.e. half of all funds from the Polish NRP. The vast majority of this money is intended to support Poland’s energy transition, including the financing of offshore wind energy. The projects for which we have mobilised funding will make a major contribution to the decarbonisation of the Polish energy sector, while also increasing the diversification of energy sources for the domestic economy. That is why I am glad that NRP money is finally starting to work for the Polish offshore industry – said Professor Mirosław Czekaj, President of the Management Board of Bank Gospodarstwa Krajowego.
Source: Polenergia
All three projects, jointly implemented by Polenergia and Equinor, will significantly support the domestic energy system with new capacities and reduce the carbon intensity of the domestic energy industry. They will also provide an impetus to the development of Polish industry by building the involvement of local suppliers, as well as creating thousands of attractive jobs in a promising industry.
Source: Polenergia
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