Bałtyk 2 and Bałtyk 3, two large-scale offshore wind farms in Poland, will secure two 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 the Norwegian energy group Equinor, and Polenergia, Poland’s largest private energy group, are jointly developing the Bałtyk 2 and Bałtyk 3 offshore wind farms.
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With a 50% stake each, the joint venture has established MFW Baltyk II sp. z o.o and MFW Baltyk III sp. z o.o. specifically for these projects.
The loans are supported under the InvestEU programme, which is designed to catalyse more than €372bn in investment that aligns with EU policy priorities by 2027.
Each wind farm will have a capacity of 720MW, and together they will host 100 wind turbines. This will enable a combined annual energy generation capacity of more than 4,900GWh.
The farms are situated between 22km and 37km offshore Poland in the Baltic Sea.
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By GlobalDataNIB president and CEO André Küüsvek stated: “Our long-term financing supports the cross-border cooperation that will bring benefits for the entire Nordic-Baltic region. These offshore wind developments will not only accelerate the energy transition in Poland but also make regional electricity markets more resilient.”
NIB, the international financial institution of eight Nordic-Baltic nations, is financing these projects to enhance productivity and environmental benefits in the region.
Founded in 1975 and operational since 1976, NIB has been an InvestEU implementing partner since December 2022 and is headquartered in Helsinki, with a regional hub in Riga.
The InvestEU programme is a cornerstone of the EU’s strategy to foster a sustainable economy. It leverages private and public funds to support initiatives such as the European Green Deal and the digital transition, as well as small and medium-sized enterprises.
Through its financial partners, the programme utilises the EU budget guarantee of €26.2bn to increase investment risk capacity and mobilise at least €372bn in additional investment.
In May 2025, Equinor and Polenergia announced financial close for the Bałtyk 2 and Bałtyk 3 projects with a combined value exceeding €6bn.
