Equinor and Polenergia have reached financial close for the Bałtyk 2 and Bałtyk 3 offshore wind projects. The two companies are project joint venture partners with 50 per cent share each in the projects. Two financing packages of over €3 billion for Bałtyk 2 and over €3 billion for Bałtyk 3, including ancillary facilities, have been secured.
The two projects have a total power capacity of 1440 MW. Equinor is responsible for the construction phase and will be the operator of the two offshore wind farms. The projects are expected to reach full commercial power production in 2028. The individual project financing packages will fund the capital investment and other project expenses during the construction period.
Earlier in January 2025, Equinor reached the financial close of its Empire Wind 1 project. It secured a project financing package that exceeds $3 billion. The company acquired the Empire Wind lease area in 2017.
