Energy Transition

Baltic Power Offshore Wind

September

2023

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Project Info
Client
Baltic Power Sp. Z o. o.
Location
Poland
Value
EUR 4.4bn
Sub-Sectors
Sub-Services
EvoInfra acted as model auditor to the sponsors on the debt financing of the 1.14 GW Baltic Power offshore wind project.

EvoInfra acted as model auditor to the sponsors on the debt financing of the 1.14 GW Baltic Power offshore wind project, a EUR 4.4bn non-recourse project financing consisting of EUR 3.6bn of term loan facilities and EUR0.8 bn of ancillary facilities for the 1.14 GW Baltic Power offshore wind project.

The debt financing for Baltic Power is being provided by 25 banks including the European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD) and the export credit agencies EDC (Export Development Canada), Export and Investment Fund of Denmark (EIFO) and Germany’s Euler Hermes as well international and local commercial banks.

The Baltic Power project is located in the Baltic Sea approximately 22 kilometers off the Polish coast and has obtained all environmental approvals and major construction permits. Once operational, which is estimated in the latter half of 2026, Baltic Power will be amongst the largest offshore wind projects globally. It is expected to provide clean energy to over 1.5 million Polish households and will play an important role in helping Poland achieve its target of up to 11 GW of offshore wind to be constructed by 2040.

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