Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 20 May 2025, the Nordic Investment Bank (NIB) signed a EUR 126 million, 26-year loan agreement with MFW Baltyk II sp. z o.o. and MFW Baltyk III sp. z o.o., the special purpose vehicles for the Baltyk 2 and Baltyk 3 offshore wind projects developed by Equinor and Polenergia. The NIB financing supports construction of the two 720 MW offshore wind farms and their grid connection infrastructure in the Polish Baltic Sea, including the Baltyk 3 Export transmission system comprising the offshore substation, submarine export cables, and onshore cable corridor to the national grid. The loan was part of the broader EUR 7.2 billion syndicated project finance package involving approximately 30 financial institutions that reached financial close on 23 May 2025. NIB participation reflects the Nordic development finance institution mandate to support green infrastructure projects with significant environmental benefits in the Baltic region.