Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
The European Investment Bank (EIB) approved major debt financing for the Bałtyk II & Bałtyk III Offshore project, which includes the Bałtyk 2 wind farm, on 6 November 2024. The EIB documentation states that proposed EIB finance amounts to approximately EUR 1.4 billion for the combined projects, with a total project cost of about EUR 6.519 billion. The milestones section records the project as moving from appraisal to ‘Approved’ on 6 November 2024 and later to ‘Signed’ on 20 May 2025, with subsequent loan signatures in November 2025 totalling EUR 1.003 billion executed to date. The EIB loans support the design, implementation and operation of the two 720 MW fixed‑bottom offshore wind farms off the Ustka‑Łeba coast, contributing to EU renewable energy and cohesion objectives. This approval represents concessional development-bank debt backing that underpins the wider project finance structure for Bałtyk 2 and Bałtyk 3.