Ocean Winds has secured about €2 billion of project finance and reached financial close for its 390MW BC-Wind project in the Polish Baltic Sea.
Ocean Winds said the funding is supported by the European Investment Bank, ICO and 13 commercial banks.
The developer said the project will deliver first power in 2028 and will supply clean electricity to nearly half a million Polish households once fully operational.
Onshore construction is to begin in 2026, with P&Q delivering the onshore substation and export cable route and Tele-Fonika Kable providing the onshore cables.
The company said it will also build a service base in Władysławowo and will use Świnoujście and Gdańsk as Polish ports for foundations and turbines respectively.
Bautista Rodriguez, chief operating officer at Ocean Winds, said: “In Poland, offshore wind energy is a key driver of the country’s energy transition and a real opportunity for the development of a revitalized economic sector. At Ocean Winds, we are convinced that Poland has the potential to become a regional leader in offshore wind – both in terms of clean energy production and industrial capability.
“Supported by key financial partners such as the European Investment Bank, our BC-Wind project is our contribution to this strategic process and a step toward increasing the share of renewables in the energy mix.”
Kacper Kostrzewa, managing director for Poland at Ocean Winds, said: “Reaching financial close for BC-Wind is not only a milestone for the project, but also a milestone for the Polish offshore wind industry.
“It confirms that Poland is ready to deliver large-scale offshore wind projects with local expertise, technology, and determination. Together with our Polish suppliers, we are entering the next phase – the construction of a new wind farm in the Baltic Sea.”
He added: “This cooperation strengthens the development of local content and supports the integration of Polish companies into the offshore wind supply chain. This is not just an investment in energy – it’s an investment in a revitalized, competitive industry in Poland.”
EIB vice-president Teresa Czerwińska said: “The EIB’s persistent commitment to supporting climate, economic competitiveness and Europe’s strategic sovereignty stands behind this beneficial, long-term loan for the construction and operation of BC-Wind, a new offshore wind project in the Polish economic zone in the Baltic Sea.
“As the climate bank of the European Union, the EIB is a trusted partner of ambitious energy transition in Poland from renewable sources to grid modernisation to energy efficiency and affordability. The latest addition to Poland’s rapidly growing offshore wind industry, BC-Wind will help reduce Poland’s carbon emissions and ensure energy security for people and businesses.”