Standard Chartered backs Poland’s largest energy project finance transaction for two offshore wind farm projects

London, UK – 27 May 2025. Standard Chartered is pleased to announce its role as Mandated Lead Arranger and Hedge Provider for the financing of two new offshore wind farms in Poland – Bałtyk 2 and Bałtyk 3. Each project will receive over EUR3 billion, representing over EUR6 billion in investment – the largest project finance transaction in the history of the Polish energy sector.

As part of the financing package, the Polish export credit agency KUKE will provide guarantees, and the German export credit agency Euler Hermes will provide cover policies for the lenders.

The two offshore wind farms are owned by Equinor and Polenergia, the largest private energy group in Poland, in a 50/50 joint venture and are located 22 to 37 km off the coast of Poland. Equinor is responsible for the construction phase and will be the operator of the two offshore wind farms.

They will be developed jointly and are expected to reach full commercial power production in 2028. At full capacity, their combined 100 wind turbines will generate a total power capacity of 1440 MW (720 MW for each wind farm) – enough to power approximatively 2 million Polish households.

Sridhar Nagarajan, Regional Head of Infrastructure and Development Finance, Europe and Americas, Standard Chartered, said: “We are proud to support Equinor and Polenergia on the Bałtyk 2 and Bałtyk 3 offshore wind projects. The EUR6 billion investment represents a historic milestone, not only as the largest project finance transaction in Poland’s energy sector, but also as a transformative leap forward in the country’s energy transition. It exemplifies the type of impactful investments we aim to support. By leveraging our expertise in renewable energy financing, we are committed to enabling the development of critical infrastructure that helps to drive sustainable growth.”

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For further information please contact:

Julien Moity
Senior Communications Manager
Standard Chartered
Email: Julien.moity@sc.com

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