Polenergia and Equinor have made the final investment decision for the twin offshore wind farms, Bałtyk II & III. This joint venture, in which both partners hold a 50% stake, is set to become the largest renewable energy project in Poland in terms of capacity, featuring 100 turbines and a total capacity of 1.44 GW, while benefiting from a 25-year electricity price guarantee (Contract for Difference - CfD).

This investment will diversify Poland’s energy mix and enhance energy security by providing green and affordable electricity to over 2 million Polish households. The project marks a key milestone in Poland’s energy transition and will boost economic growth by attracting new investments and creating new jobs, with two separate financing deals of €3 billion for each project.

The financing of this project aligns perfectly with Crédit Mutuel Alliance Fédérale’s strategy to support green energy production at the European level.

Trine Borum Bojsen, Senior Vice President of Equinor for Renewables in Europe, stated : « Building a profitable renewables business through safe execution and operations is key to delivering on Equinor’s strategy. With financial close reached for Bałtyk 2 and Bałtyk 3, the last important milestone is passed ahead of full-scale construction. We appreciate the strong interest and support from lenders. This underpins the attractiveness of the projects and the confidence in Polenergia and Equinor as developers. »

Adam Purwin, Polenergia CEO, stated : « We have accomplished something remarkable : we secured financing from around 30 institutions — the biggest players in the international financial market — and obtained exceptionally favorable terms in what has been a challenging market in recent months. We are now entering the construction phase so that in three years, clean energy from state-of-the-art turbines will flow into Polish homes. Securing this financing places us among the largest private energy investors in Europe. It is a great source of pride that a project finance transaction of this scale involves Polenergia, and that a private Polish energy group, whose largest shareholder is Dominika Kulczyk, is driving the energy transition. »