IJGlobal has recognized the financing of the BC-Wind offshore wind project, developed in Poland by Ocean Winds, by awarding it the Market Impact Award. This award is given to transactions that significantly influence the development of greenfield investment financing in the energy and infrastructure sectors.
The financing of the BC-Wind project is one of the largest transactions of its kind for renewable energy projects ever completed in Poland, and also one of the country’s first offshore wind energy financing transactions structured as non-recourse project finance. The transaction structure included multilateral financing, support from export credit agencies, and a broad syndicate of commercial banks, creating a diversified and risk-resilient capital structure.
The transaction raised approximately €2 billion in long-term debt through project finance. Financing was provided by the European Investment Bank and Spain’s Instituto de Crédito Oficial, as well as by a group of 13 international and domestic financial institutions, including leading Polish banks and global leaders in infrastructure financing. The participation of both domestic and international institutions confirmed strong confidence in Poland’s regulatory framework for offshore wind energy and in the long-term stability of contracted revenues.
Daan Van Hoyweghen, Chief Financial Officer at Ocean Winds, said: “We are proud that the financing for the BC-Wind project has been recognized by IJGlobal as a transaction with real market impact. The diverse composition of the financing institutions—including multilateral financial institutions, export credit agencies, as well as international and local commercial banks—demonstrates that offshore wind energy in Poland has reached full investment maturity as an infrastructure asset class. This transaction sets a benchmark for the financing of future offshore wind energy projects in the region.”
About the IJGlobal Awards
The IJGlobal Awards are among the most recognized accolades in the international project finance and infrastructure investment community. Presented by IJGlobal—a service specializing in the analysis of global infrastructure and energy project finance markets—they highlight the most significant transactions closed in a given year in terms of their complexity, innovation, and impact on market development.
About the BC-Wind Project
BC-Wind is Ocean Winds’ first project in the Baltic Sea and a key investment supporting Poland’s energy transition, as well as the country’s long-term energy security. The project is located approximately 23 km off the Polish coast, within Poland’s exclusive economic zone. The investment will also involve significant participation by local entities in the supply chain and the development of port infrastructure, supporting the growth of domestic industry and expertise in the field of offshore wind energy. The wind farm will consist of 26 turbines with a total planned capacity of up to 390 MW, which will enable the supply of electricity to over 488,000 households annually. The first electricity from the BC-Wind project is scheduled to be delivered in 2028.
Source: Ocean Winds
