BAKU, Azerbaijan, May 23. The European Investment Bank (EIB) has signed a financing agreement to provide 700 million euros in support of two offshore wind farms being developed off Poland’s Baltic Sea coast, Trend reports.
The Bałtyk 2 and Bałtyk 3 projects are a joint venture between Norway-based Equinor and Poland’s Polenergia, and together will have a total installed capacity of 1.44 gigawatts (GW).
Each project will receive 350 million euros in EIB funding, making the institution the largest lender among approximately 30 financial entities backing the initiative. The wind farms are expected to become fully operational in 2028 and are designed to produce enough renewable electricity to meet the annual consumption of approximately two million households.
Located roughly 30 kilometers offshore from the towns of Ustka and Łeba, the fixed-bottom wind farms will include 100 turbines rated at 14.4 megawatts (MW) each. Most of the equipment is expected to be sourced from European suppliers.
EIB Vice-President Teresa Czerwińska noted that this investment marks the Bank’s third major commitment to renewable energy projects in Poland in 2025, and its third financing package for offshore wind developments in the Baltic Sea. She highlighted the projects' significance for Poland’s energy transition, as well as for economic resilience and regional development.
The partnership between Equinor, a global offshore wind developer, and Polenergia, Poland’s largest privately-owned energy group, is expected to contribute to the modernization of infrastructure in the EU’s cohesion regions.