Wednesday, December 6 2023 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Dec 04
Week of Nov 27
Week of Nov 20
Week of Nov 13
Week of Nov 06
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    EBRD finances landmark offshore wind farm in Poland

    September 22, 2023 - Pivotal Sources


      Poland, Sept. 21 -- The European Bank for Reconstruction and Development (EBRD) is supporting the development of Poland's renewable energy capacity by extending a €140 million loan to Baltic Power to finance the construction of the country's first offshore wind farm.

      The EBRD's financing is provided alongside that from a large number of international and local commercial lenders, the European Investment Bank (EIB) and export credit agencies.

      Once operational, the wind farm, which will have a capacity of up to 1.2 GW, is expected to generate electricity equivalent to 4,000 GWh or approximately 2-3 per cent of Poland's current electricity generation. It will help to avoid approximately 2.8 million tonnes of CO2 emissions annually. The project is a landmark transaction for the EBRD, central Europe and Poland, representing a significant step in the transformation of Poland's energy sector.

      Poland has committed to substantial decarbonisation goals and, in line with the wider European energy sector, is targeting offshore wind power to increase electrification and reduce its coal-fired energy generation.

      Baltic Power is a special purpose vehicle incorporated in Poland to develop, build and operate the wind project in the Baltic Sea. It is jointly owned by ORLEN, the Polish multi-utility company, and Northland Power, a Canadian independent power producer with significant experience in offshore wind. Published by HT Digital Content Services with permission from Pivotal Sources. For any query with respect to this article or any other content requirement, please contact Editor at


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.