Fid Financial Close

On 23 May 2025, Equinor and Polenergia reached financial close for the Bałtyk 2 and Bałtyk 3 offshore wind projects, including Bałtyk 2. The joint venture secured two non‑recourse project finance packages, each of over EUR 3 billion for Bałtyk 2 and Bałtyk 3 respectively, including ancillary facilities. In total, the financing for both projects amounts to approximately EUR 7.2 billion, funding capital investment and other construction-period costs. The wind farms are project financed with gearing of around 80%. Around 30 financial institutions, including Equinor’s core banks, the Nordic Investment Bank and the European Investment Bank, participate in the lending group. Equinor is responsible for the construction phase and will operate the wind farms. Financial close marked the last major milestone before full‑scale construction for Bałtyk 2 and its sister project.