Jun 10, 2025
The Bałtyk 2 and Bałtyk 3 offshore wind farms in Poland receive NIB funding.
Bałtyk 2 and Bałtyk 3, two large offshore wind farms in Poland, will obtain 26-year loans of €64m ($73.1m) and €62m respectively from the Nordic Investment Bank (NIB) for their construction and operation.
Equinor Wind Power, a subsidiary of Norway's Equinor, and Polenergia, Poland's largest private energy group, are partnering on these projects.
With each holding a 50% stake, the joint venture has created MFW Baltyk II sp. z o.o and MFW Baltyk III sp. z o.o. for these developments.
The loans are backed by the InvestEU programme, which aims to stimulate over €372bn in investment aligned with EU policy priorities by 2027.
Each wind farm will have a capacity of 720MW and will include 100 wind turbines, allowing for a combined annual energy production of over 4,900GWh.
The farms are located 22km to 37km offshore in the Baltic Sea.
NIB president and CEO André Küüsvek remarked that their long-term financing supports cross-border cooperation that benefits the Nordic-Baltic region. These offshore wind projects will accelerate Poland's energy transition and enhance the resilience of regional electricity markets.
NIB, representing eight Nordic-Baltic nations, is financing these projects to improve productivity and environmental benefits in the area.
Established in 1975 and operational since 1976, NIB has been an InvestEU partner since December 2022, with its headquarters in Helsinki and a regional hub in Riga.
The InvestEU programme is a key component of the EU's strategy for a sustainable economy, leveraging both public and private funds for initiatives like the European Green Deal and the digital transition, as well as supporting small and medium-sized enterprises.
Through its financial partners, the programme uses the EU budget guarantee of €26.2bn to boost investment risk capacity and mobilize at least €372bn in additional investments.
In May 2025, Equinor and Polenergia announced the financial closing of the Bałtyk 2 and Bałtyk 3 projects, valued at over €6bn.
Equinor Wind Power, a subsidiary of Norway's Equinor, and Polenergia, Poland's largest private energy group, are partnering on these projects.
With each holding a 50% stake, the joint venture has created MFW Baltyk II sp. z o.o and MFW Baltyk III sp. z o.o. for these developments.
The loans are backed by the InvestEU programme, which aims to stimulate over €372bn in investment aligned with EU policy priorities by 2027.
Each wind farm will have a capacity of 720MW and will include 100 wind turbines, allowing for a combined annual energy production of over 4,900GWh.
The farms are located 22km to 37km offshore in the Baltic Sea.
NIB president and CEO André Küüsvek remarked that their long-term financing supports cross-border cooperation that benefits the Nordic-Baltic region. These offshore wind projects will accelerate Poland's energy transition and enhance the resilience of regional electricity markets.
NIB, representing eight Nordic-Baltic nations, is financing these projects to improve productivity and environmental benefits in the area.
Established in 1975 and operational since 1976, NIB has been an InvestEU partner since December 2022, with its headquarters in Helsinki and a regional hub in Riga.
The InvestEU programme is a key component of the EU's strategy for a sustainable economy, leveraging both public and private funds for initiatives like the European Green Deal and the digital transition, as well as supporting small and medium-sized enterprises.
Through its financial partners, the programme uses the EU budget guarantee of €26.2bn to boost investment risk capacity and mobilize at least €372bn in additional investments.
In May 2025, Equinor and Polenergia announced the financial closing of the Bałtyk 2 and Bałtyk 3 projects, valued at over €6bn.