The European Investment Bank (EIB) has approved financing for the development of the 1,440-MW Baltyk 2 and Baltyk 3 offshore wind farms, a joint project by Poland’s Polenergia and Norway’s Equinor. Located off the Ustka-Leba coast in northern Poland, each wind farm will have a capacity of up to 720 MW.
EIB vice-president Teresa Czerwinska highlighted the project’s contributions to reducing air pollution, expanding renewable energy sources, and supporting Poland’s energy transition. Although the total amount of financing wasn’t disclosed, the EIB’s support aims to enhance Poland’s energy security and bring the latest energy technologies to the country.
With building permits in place and key contractors engaged, the Baltyk 2 and Baltyk 3 wind farms are set to produce first power in 2027 and reach full operation in 2028. In addition, Polenergia recently raised PLN 750 million (EUR 173 million) through green bonds to support its offshore projects.
Equinor and Polenergia are also collaborating on the 1.56-GW Baltyk 1 project, located 81 km off Poland’s Baltic coast.
