PGE with the approval of the Board of Directors of the European Investment Bank to support the financing of the Baltica Offshore Wind Farm
Project will consist of several sages - for each of the stages of the Baltica OWF – stages Baltica 2 and Baltica 3 – there is one tranche to be disbursed in the Project Finance formula in the amount of up to EUR 350 million, and one tranche to be disbursed based on guarantees from financial institutions, banks or export credit agencies.
Accelerating the energy transformation is a priority, which is why the EIB Group and the European Commission established the REPowerEU initiative. This aims to make the European Union independent of Russian energy resources and move the EU energy sector towards renewable energy. The Baltica Offshore Wind Farm project meets these goals.
PGE is building the Baltica OWF together with its Danish partner - Ørsted. The project with a total capacity of approx. 2.5 GW consists of two stages - Baltica 2 with a capacity of approx. 1.5 GW, which is scheduled to be commissioned in 2027, and Baltica 3 with a capacity of approx. is planned by the end of this decade.