Crédit Agricole supports the development of offshore wind energy in Poland
The Crédit Agricole Group is actively involved in financing strategic investments in the renewable energy sector. This time, the bank is engaging in the implementation of one of the key offshore wind energy projects in Poland – the Baltica 2 wind farm.
In brief
The Crédit Agricole Group is co-financing the Baltica 2 offshore wind farm, developed by PGE Polska Grupa Energetyczna and Denmark's Orsted in a 50:50 joint venture. The financing involves Crédit Agricole CIB as Mandated Lead Arranger and Hedge Provider, Crédit Agricole Transitions & Energies and Crédit Agricole Bank Polska. The Baltica 2 farm will comprise 107 turbines of 14 MW each over an area of around 190 square kilometres off Ustka and Choczewo, with a target capacity of 1,498 MW. Commissioning of the farm is planned for 2027.
Financing for the future
Baltica 2 is a project implemented by PGE Polska Grupa Energetyczna in cooperation with the Danish company Orsted as part of a 50:50 joint venture. It is one of the most ambitious projects in the Polish part of the Baltic Sea and a key element of the country's energy transition.
Several Crédit Agricole Group companies are involved in financing the investment: Crédit Agricole CIB (as Mandated Lead Arranger and Hedge Provider), Crédit Agricole Transitions & Energies, and Crédit Agricole Bank Polska.
- Crédit Agricole Group's involvement in financing the Baltica 2 project highlights our expertise in structuring complex energy transactions. We are pleased to support the development of renewable energy sources in Poland, said Bernard Muselet, Senior Country Officer of Crédit Agricole in Poland.
A giant in offshore wind energy
Baltica 2 is one of the largest planned offshore wind farms in Poland’s exclusive economic zone of the Baltic Sea. The farm will consist of 107 wind turbines, each with a capacity of 14 MW. Their location covers an area of approximately 190 km² off the coast of Ustka and Choczewo, with the nearest turbine positioned 40 km from shore.
With a target capacity of 1,498 MW, the farm will supply clean energy to approximately 2.5 million consumers, providing power to households, hospitals, schools, and businesses. This is a significant step towards Poland’s climate neutrality and the reduction of greenhouse gas emissions.
Wind energy on the horizon
The Baltica 2 wind farm is scheduled to be commissioned in 2027. This project will not only strengthen Poland’s position in the offshore wind energy sector but also contribute to regional economic growth through the development of new jobs and infrastructure.
Crédit Agricole’s support for Baltica 2 marks another step towards a sustainable future for Poland's energy sector.
Source: Crédit Agricole / Gazeta Morska · Compiled by: Kamil Kusier
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