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.
