Loading…
Loading…
The EIB signed a EUR 700 million loan (EUR 350 million per wind farm) as part of a wider project-finance package exceeding EUR 3 billion per farm involving some 30 financial institutions, for the Bałtyk 2 and Bałtyk 3 offshore wind farms developed by the Equinor-Polenergia joint venture. The two fixed-bottom farms sit roughly 30 km off the Polish coastal towns of Ustka and Łeba, will use 100 turbines of 14.4 MW each for a combined 1.44 GW capacity, and are targeted to be fully operational in 2028. The EIB frames the financing under its climate-action and cohesion mandate and under the InvestEU programme, which leverages an EU budget guarantee to mobilise private co-financing.
Global Trade Alert classifies this as a "state loan" intervention — the same treatment it applies to other EIB green-energy financings to named commercial developers (e.g. the EIB-Iberdrola Windanker and Tâmega tranches) — on the grounds that EIB capital is priced below what the same developers would obtain through purely commercial project-finance channels. The EIB itself notes this is its third major Polish renewables financing in 2025 alone, following its earlier contribution to the Baltica 2 wind farm (the EU's largest offshore wind park to date) and its 2023 financing of Poland's first offshore wind farm — establishing the EIB as a repeat anchor lender for Poland's Baltic Sea offshore-wind buildout.
Severity is set at 2 (quant, based on the EUR 350m-per-project EIB contribution against a total project-financing package exceeding EUR 3bn per farm — a modest fraction of total financing, consistent with the register's treatment of other EIB multilateral co-financing tranches in the low-hundreds of millions).
wind sector (Baltica 2, the 2023 first-offshore-wind financing, and now Bałtyk 2/3), reinforcing a pattern of EU multilateral capital functioning as de facto industrial support for national energy-transition buildout outside classic state-aid notification channels.
(Windanker, Tâmega) to a second major European offshore-wind sponsor pair (Equinor/Polenergia), suggesting this is now a routine multilateral financing channel for large-scale EU offshore wind rather than a one-off.
(see also the EIB-EIF Vehis SME leasing deal filed 2025-07-03).
contributions is not disclosed in the primary source.
provided any parallel direct subsidy or guarantee alongside this EIB tranche.