EIB Invests €400M In Poland's Largest Offshore Wind Project

2025-01-31 02:07:22

(MENAFN- Trend News Agency) BAKU, Azerbaijan, January 31. The European Investment Bank (EIB) has signed a 400 million euro loan agreement with Polska Grupa Energetyczna (PGE) to support the development of Baltica 2, the largest offshore wind farm in the European Union, Trend reports.

]The project, being developed in partnership with Denmark's Ørsted, will have a capacity of 1.5 GW and will be located in the Baltic Sea, 40 km off Poland's coast.

This loan represents the largest single financial institution's contribution to Baltica 2 and is part of a broader 1.4 billion euro financing package approved by the EIB. The project, set for completion in 2027, will feature 107 state-of-the-art turbines and is expected to double PGE's renewable energy portfolio when combined with the Baltica 3 project.

Supported by EU initiatives such as InvestEU and REPowerEU, the investment aims to boost Poland's energy transition and security while strengthening regional energy cooperation. EIB Vice-President Teresa Czerwińska emphasized the project's role in increasing renewables in Poland's energy mix and reducing emissions, calling it a "transformative" step for the country's energy sector.

The EIB has previously financed Ørsted's wind energy projects, including offshore developments along the Polish coast, and has supported PGE in various energy transition initiatives.

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