Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 23 May 2025, KfW IPEX-Bank announced that it is acting as Mandated Lead Arranger and one of the largest lenders in an approximately EUR 3 billion project financing for the Polish offshore wind farm Bałtyk 3 and its grid connection infrastructure, as part of a club of around 30 commercial banks, international financial institutions and export credit agencies. The financing supports construction of the 720 MW MFW Bałtyk III offshore wind farm and its associated Bałtyk 3 Export transmission system, including the offshore substation, two 220 kV HVAC submarine export cables running approximately 67 km from the offshore substation to landfall near Ustka, onshore 220 kV cables to the Pęplin onshore substation, and 400 kV underground cables to PSE's Słupsk Wierzbięcino grid connection point. KfW IPEX-Bank's participation alongside sponsors Equinor and Polenergia confirms the scale and bankability of the project finance package that enables full-scale construction of one of Poland's first large-scale offshore wind developments and its dedicated grid export infrastructure.