KfW IPEX-Bank: Financing for offshore wind farm Baltica 2, Poland’s largest-ever renewable energy project

KfW IPEX-Bank, as part of a large club of commercial banks and international financial institutions, has signed the financing for the second Polish offshore wind farm project, Baltica 2 (1,498 MW), in the interest of the Polish sponsor PGE and the Danish sponsor Orsted.

KfW IPEX-Bank is one of the larger lenders and acts as Mandated Lead Arranger and thus supports significant exports from Germany.

Baltica 2 is the largest renewable energy project currently under development in the Baltic Sea. It will meet the electricity needs of about 2.5 million Polish households and will significantly contribute to Poland’s green energy transition.

The project will be equipped with Siemens Gamesa SG 14-222 turbines and comprises significant foundation deliveries from the German manufacturers Steelwind Nordenham and EEW.

Dr Velibor Marjanovic, member of the Management Board of KfW IPEX-Bank, says:

“Baltica 2 underlines our claim as one of the leading arrangers of offshore wind financings globally and demonstrates our commitment to backing German producers of renewable energy assets. Our prominent role in the Baltica 2 transaction opens the door to new offshore wind financings in Poland and other offshore wind markets.”