Equinor and Polenergia are seeking finance from the European Bank for Reconstruction and Development (EBRD) for their Baltyk 2 and 3 projects, both of which have a capacity of 720MW.
The non-recourse long-term senior debt from EBRD would finance the construction of the offshore wind farms in the Polish Baltic Sea.
The bank’s financing will be provided alongside multiple commercial banks, export agencies and development banks, EBRD said.
It has set an approval date for the finance of 11 December 2024.
The projects are part of the first phase of the offshore wind farm rollout in Poland which covers 5.9GW across eight schemes.
EBRD has provided financing for Baltic Power, a JV between Northland Power and PKN Orlen and is considering financing for the Baltica 2, a JV between PGE and Orsted.
The bank said it has used experience from these projects as part of the due diligence for Baltyk 2 and 3.