The financing structure behind Ocean Winds’ BC-Wind offshore wind project in Poland has been recognised with IJGlobal’s Market Impact Award, highlighting the transaction’s role in advancing renewable energy investment in the country.
The project raised approximately €2 billion through long-term project finance debt, making it one of the largest renewable energy financings ever completed in Poland.
The financing combined funding from multilateral lenders, export credit institutions and a broad syndicate of commercial banks, creating a diversified capital structure for the project.
Major international lenders back offshore wind development
The European Investment Bank and Spain’s Instituto de Crédito Oficial provided long-term financing alongside a group of 13 international and domestic commercial lenders, including several major Polish banks.
The transaction is among the first non-recourse offshore wind project financings in Poland, signalling growing investor confidence in the country’s offshore wind regulatory framework and long-term energy transition strategy.
Daan Van Hoyweghen, Chief Financial Officer at Ocean Winds, said the project demonstrates that offshore wind in Poland has reached full investment-grade maturity as an infrastructure asset class.
“The diversity of lenders – including multilaterals, export credit institutions and international commercial banks – demonstrates that offshore wind in Poland has reached full investment-grade maturity as an infrastructure asset class.
“It establishes a reference financing structure for future offshore wind projects in the region.”
Offshore wind expansion in the Baltic Sea
BC-Wind is Ocean Winds’ first project in the Baltic Sea and forms part of Poland’s strategy to strengthen energy security and accelerate its energy transition.
The wind farm will be located around 23 kilometres off the Polish coast within Poland’s Exclusive Economic Zone.
The project will include 26 turbines with a total planned capacity of up to 390 MW.
Once operational, the wind farm is expected to generate enough electricity to power more than 488,000 households annually.
First electricity from the project is expected in 2028.
Recognition from the infrastructure finance sector
The IJGlobal Awards recognise major infrastructure and energy transactions each year based on their complexity, innovation and contribution to infrastructure investment markets.
Industry observers say financing structures such as BC-Wind could serve as reference models for future offshore wind projects across Central and Eastern Europe as the region scales renewable energy deployment.
