Posted by: Windfair Editors
EIB to support development of Baltica Offshore Wind Farm in Poland
Image: PixabayOfficial Press Release PGE Group:
PGE with the approval of the Board of Directors of the European Investment Bank to support the financing of the Baltica Offshore Wind Farm
The European Investment Bank (EIB) approved the in-principle financing of the Baltica OWF project to be implemented by the PGE Group. The total financing package amounts to EUR 1.4 billion. This is a significant step towards ensuring an optimal financing structure that will enable the construction of PGE's first offshore wind farms in the Baltic Sea.
Project will consist of several sages - for each of the stages of the Baltica OWF – stages Baltica 2 and Baltica 3 – there is one tranche to be disbursed in the Project Finance formula in the amount of up to EUR 350 million, and one tranche to be disbursed based on guarantees from financial institutions, banks or export credit agencies. Accelerating the energy transformation is a priority, which is why the EIB... ... More: Official Press Release PGE Group
- Keywords:
- PGE Group, European Investment Bank, EIB, offshore, wind farm, financing, support, Baltica, Poland, developer, tranche, bank
