KfW IPEX-Bank Supports Major Polish Offshore Wind Farms with EUR 3 Billion Financing

KfW IPEX-Bank Supports Major Polish Offshore Wind Farms with EUR 3 Billion Financing

(IN BRIEF) KfW IPEX-Bank has played a leading role in financing the Baltyk 2 and Baltyk 3 offshore wind farms in Poland, each with a 740 MW capacity. With a EUR 3 billion financing for each project, KfW IPEX-Bank, as Mandated Lead Arranger, supports Poland’s energy transition and growth in offshore wind. The projects will generate electricity for 2 million households and are crucial to reducing greenhouse gas emissions in Poland and Europe.

(PRESS RELEASE) FRANKFURT, 23-May-2025 — /EuropaWire/ — KfW IPEX-Bank is playing a pivotal role in financing the Polish offshore wind farms Baltyk 2 and Baltyk 3, each with a capacity of 740 MW, as part of a consortium of 30 commercial banks, international financial institutions, and export credit agencies. The financing of approximately EUR 3 billion for each wind farm highlights KfW IPEX-Bank’s prominent position in the growing offshore wind sector.

As Mandated Lead Arranger, KfW IPEX-Bank is one of the largest lenders involved in the projects and also serves as Euler Hermes Agent for 20 participating banks in the consortium. The projects are backed by Norwegian multinational energy giant Equinor and Poland’s leading private energy group Polenergia.

Located 37 kilometers from the Polish coast, Baltyk 2 and 22 kilometers for Baltyk 3, both wind farms are expected to begin operations in 2028 and will collectively generate electricity for around 2 million households.

These wind farms will feature 50 cutting-edge Siemens SG 14-236 DD turbines each. The projects involve numerous European companies contributing to the construction, delivery, and services for the farms. Baltyk 2 and Baltyk 3 are the third and fourth offshore wind farms in Poland, following the “Baltic Power” and “Baltica 2” projects. KfW IPEX-Bank has been a key financier in all four, demonstrating its commitment to supporting the European export industry in a critical offshore wind market.

The projects play a significant role in Poland’s energy transition, as they are essential to the government’s efforts to reduce greenhouse gas emissions and phase out coal-fired power plants. They also contribute to Europe’s broader energy transition goals.

Dr. Velibor Marjanovic, Member of the Management Board at KfW IPEX-Bank, commented: “These financings reinforce our position as one of the world’s leading arrangers of offshore wind energy financings. We are committed to supporting German and European producers of renewable energy assets. Our prominent role in these complex transactions sets the stage for future offshore wind projects in Poland and other offshore markets.”

Media Contact:

Ms Dela Strumpf
KfW IPEX-Bank Press Office
+49 69 7431-2984
Dela.Strumpf@kfw.de

SOURCE: KfW