PGE plans to finalise financing for the Baltica 2 offshore wind project next month, as stated by PGE CEO Dariusz Marzec.
The Baltica 2 project, with a capacity of about 1.5 GW, is one of key stages in the development of offshore wind farms in Poland, implemented by PGE in cooperation with Danish energy giant Ørsted.
‘In November, we will most likely conclude financing for the Baltica 2 project,’ the PGE president said during the ongoing Energy Days conference in Katowice.
Speaking to journalists, President Marzec stressed that the company is at the final stage of preparing documentation and negotiations with financial institutions.
‘These are international banks, commercial banks, export agencies. In the fourth quarter we want to close the financing process and make a final investment decision on this project,’ Marzec said.
He added that the financing will be provided by, among others, the National Recovery Plan, Bank Gospodarstwa Krajowego (BGK) and international banks.
Marzec noted that there has been a lot of interest from financial institutions: ‘We are optimistic and positive about the possibility of closing the books.’
Baltica 2 is a key project that is expected to make a significant contribution to the transformation of the Polish energy sector in the future. Alongside Baltica 3, it is one of two phases of the Baltica Offshore Wind Farm, which will ultimately provide green energy to almost 4 million households in Poland.
PGE and Ørsted have already contracted all the necessary components for the Baltica 2 project and signed contracts for their installation. The partners have also selected a general contractor for the onshore connection infrastructure and have all the necessary construction permits in place. The Baltica 2 phase, with a capacity of approximately 1.5 GW, is scheduled for completion by the end of 2027, while Baltica 3, with a capacity of 1 GW, is expected to be completed by 2030.
The entire Baltica Offshore Wind Farm, with a total capacity of 2.5 GW, will make a significant contribution to Poland’s sustainable energy development goals.
Source: energydays.pl & PGE
