BALTIC POWER OFFSHORE WIND FARM IN POLAND

Project Description: The project involves providing a non-recourse long-term senior loan of up to EUR 250 million to Baltic Power Sp. z o.o. The loan will be used to finance the construction and operation of the Baltic Power offshore wind farm in Poland, which will have a capacity of 1.14 GW. In addition to the Bank's financing, other commercial banks, export agencies, and development banks will also be involved in funding the project. Project Objectives: The project is currently the most advanced among the first stage of offshore wind developments in Poland. It encompasses eight projects with a total capacity of 5.9 GW. Once the Baltic Power offshore wind farm is constructed, it is expected to generate 4 terawatt-hours (TWh) of electricity annually, resulting in approximately 2.8 million tonnes of CO2 savings per year. The loan provided by the Bank will be used to finance the project's capital expenditure. Transition Impact: The project has a Transition Impact (ETI) score of 80, indicating its significant contribution to green initiatives. It will help mitigate climate change by adding 1,140 MW of renewable energy generation capacity in Poland. The Baltic Power offshore wind farm is the first of its kind in the country and is anticipated to produce around 4 TWh of electricity annually.