(AGENPARL) – Fri 23 May 2025 PRESS RELEASE2025-217-EN
23 May 2025
EIB extends €700 million for development of two major new offshore wind farms in Poland
European Investment Bank is the largest lender by far to Bałtyk 2 and Bałtyk 3 offshore wind farms developed by Norway’s Equinor and Poland’s Polenergia.
The two large-scale farms in the Baltic Sea will produce enough energy to power two million homes.
Third major renewables investment in Poland this year highlights the EU climate bank’s leading role in driving energy transition.The European Investment Bank (EIB) signed an agreement to provide €700 million for the construction of two large-scale offshore wind farms developed by Norway’s Equinor and Poland’s Polenergia off the Polish coast of the Baltic Sea. The twin Bałtyk 2 and Baltyk 3 wind farms will have a shared capacity of 1.44 GW and are expected to go online fully in 2028.
“Bałtyk 2 and Bałtyk 3 are important projects for Poland’s decarbonisation plans as they will produce enough clean electricity to meet annual demand of two million households. The European Investment Bank has provided €350 million for each wind farm, which makes us the biggest lender by far among some 30 financial institutions involved,” said EIB Vice-President Teresa Czerwińska. “This is the EIB’s third major renewables investment in Poland only this year and our third financing for Polish offshore wind farms in the Baltic Sea in general, which highlights our dedication to developing green energy in Poland as a prerequisite for both economic competitiveness and security.”
Located some 30 kilometres off the Polish coastal towns of Ustka and Łeba, the two fixed-bottom wind farms will consist of a hundred wind turbines of 14.4 MW each. Primarily supplied by European companies, the joint venture between Equinor, a leading international player in the offshore wind sector, and Poland’s largest private energy group Polenergia will also contribute to modern development of the EU’s cohesion regions.
Background information  
EIB  The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. 
The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. In Poland, the EIB Group invested €5.7 billion euros last year, nearly half of which went to climate and environment projects, including energy transition. A trusted partner of the multifaceted energy transition in Poland, the EIB made a leading contribution earlier this year to the development of another offshore wind farm in the Baltic Sea, Baltica 2, the EU’s largest such wind park to date. In 2023, the EIB also financed Poland’s first offshore wind farm.
InvestEUThe InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that invest in projects, leveraging on the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increasing their risk-bearing capacity and mobilising at least €372 billion in additional investment.
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