New EIB Financing Boosts Ocean Winds’ 390 MW BC-Wind Development and Strengthens Poland’s Renewable Energy Transition

New EIB Financing Boosts Ocean Winds’ 390 MW BC-Wind Development and Strengthens Poland’s Renewable Energy Transition

(IN BRIEF) The European Investment Bank has committed €600 million to the 390 MW BC-Wind offshore wind farm developed by Ocean Winds, becoming the project’s largest lender and reinforcing its deep involvement in Poland’s renewable energy expansion. Scheduled to begin generating electricity in 2028, the wind farm will be located over 20 kilometres off Poland’s Baltic coast and is expected to deliver clean power to nearly half a million homes and businesses. Featuring 26 turbines with capacities of up to 15 MW each, BC-Wind now has all required permits and a 25-year contract for difference, with construction slated for 2026 following a wider €2 billion financing agreement reached with 15 additional lenders. The EIB emphasised that the project supports Poland’s energy security and emissions reduction goals, while Ocean Winds noted Poland’s growing prospects as a regional leader in offshore wind. The financing falls under InvestEU and contributes to REPowerEU’s goal of reducing reliance on fossil fuel imports. BC-Wind is part of a wider surge in EIB support for Poland’s offshore wind industry, with €1.7 billion invested in 2025 across other major Baltic projects including Bałtyk 2, Bałtyk 3 and Baltica 2.

(PRESS RELEASE) LUXEMBOURG, 2-Dec-2025 — /EuropaWire/ — The European Investment Bank (EIB) has agreed to provide €600 million in financing for the development of BC-Wind, a major 390 MW offshore wind farm to be built in the Polish waters of the Baltic Sea. With this commitment, the EIB becomes the largest financial contributor to the project, reinforcing its role as a core partner in Poland’s accelerating renewable energy transformation. BC-Wind is being developed by Ocean Winds, the joint venture created by EDPR and ENGIE, which continues to expand its presence across Europe’s offshore wind sector.

Located more than 20 kilometres off Poland’s western coastline, BC-Wind is expected to be fully operational in 2028, delivering clean electricity to the equivalent of nearly 500,000 households and businesses. The project marks another major milestone in the rapid growth of offshore wind in Poland and becomes the fourth such installation supported by the EIB — and the third signed in 2025 alone, underlining the bank’s strategic commitment to the country’s green transition.

“The EIB’s long-standing dedication to climate action, economic resilience and Europe’s strategic independence is reflected in this long-term loan for BC-Wind,” said Teresa Czerwińska, EIB Vice-President. “As the EU climate bank, we remain a reliable partner for Poland’s energy transition — from renewables to grid expansion and energy efficiency. BC-Wind strengthens the country’s offshore wind sector, supports emission reduction and enhances energy security for people and businesses.”

Once completed, the wind farm will feature 26 bottom-fixed turbines, each capable of delivering up to 15 MW. Ocean Winds has already secured the full suite of required permits and holds a 25-year contract for difference, providing long-term sales stability. On 1 December, the project developer announced the finalisation of an approximately €2 billion financing package with 15 lenders, clearing the path for construction to begin in 2026.

“At Ocean Winds, we strongly believe in Poland’s capacity to become a regional leader in offshore wind generation and industrial capability,” said Bautista Rodriguez, Chief Operating Officer of Ocean Winds. “Supported by partners such as the European Investment Bank, BC-Wind is our contribution to this national effort and a meaningful step forward in increasing the share of renewables in Poland’s energy mix.”

The EIB, ENGIE and EDPR have collaborated on numerous renewable energy initiatives, including the backing of Ocean Winds’ floating offshore pilot project in France. Financing for BC-Wind is supported under the InvestEU guarantee framework and aligned with the REPowerEU plan, which seeks to accelerate clean energy deployment and reduce Europe’s reliance on fossil fuel imports. The loan also forms part of TechEU, the EIB Group’s flagship programme aimed at strengthening Europe’s technological and industrial leadership.

Across Poland, the EIB has emerged as a leading financier of offshore wind build-out. In 2025 alone, the bank played a central role in advancing the Bałtyk 2 and Bałtyk 3 wind farms (together 1.44 GW) and the 1.5 GW Baltica 2 — the largest European offshore wind project to date. Total EIB investment in Poland’s offshore wind sector this year amounts to €1.7 billion, building on earlier support provided to the country’s first offshore wind project in 2023.

Background information  

EIB  

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. In Poland, the EIB Group invested €5.7 billion euros last year, nearly half of which went to climate and environment projects, including energy transition.

Ocean Winds

Ocean Winds (OW) is an international company dedicated to offshore wind energy, created in 2019 as a 50/50 joint venture owned by Spain’s EDP Renewables and France’s ENGIE. Founded on the belief that offshore wind is a key component of the global energy transition, OW develops, finances, builds, and operates offshore wind farm projects around the world.

As of 2025, OW’s gross offshore wind capacity – already in operation, under construction, or with advanced development rights secured – reaches approximately 19 GW. Headquartered in Madrid, OW currently holds projects in 8 countries.

InvestEU

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that invest in projects, leveraging on the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increasing their risk-bearing capacity and mobilising at least €372 billion in additional investment.

Media contact:
Gabriela Baczyńska
g.baczynska@eib.org
+352 4379-83852

Press Office
press@eib.org
+352 43791

SOURCE: European Investment Bank