PL Offshore Wind (IFC-49960)

Countries
  • Poland
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
MFW Baltyk II sp. z o.o.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 16, 2025

Disclosed by Bank Nov 11, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, IFC is considering two senior loans to support the development, construction, and operation of two offshore windfarms (Baltyk II and Baltyk III) that are being developed through a Joint Venture between Equinor Wind Power and Polenergia S.A. (the “Projects”).

Each of the two offshore wind power projects will comprise 50 wind turbines (i.e., 100 in total), an offshore substation and inter-array cabling, and will have an installed capacity of 720MW (1.44GW in total). Both projects will be located within the Polish Economic Exclusive Zone (EEZ), with Baltyk II covering an area of 122km2 located approximately 37km offshore and Baltyk II covering 117km2 located approximately 22km offshore.

Two independent External Connection Infrastructure (ECI) systems will be constructed, one for each of the two projects, comprising 60km and 67km of offshore cable lines for Baltyk II and III respectively, and 14 km of parallel onshore underground cabling, and an onshore substation, for each of the projects. The majority of the offshore ECI will be within the Polish EEZ, with the nearshore sections being in territorial waters, and the onshore sections located within the municipalities of Utska and Redsiko in the Pomosrkie voivodship.  Facilities are currently being developed at the port of Leba, approximately 100 km west of Gdansk to serve as the operations and maintenance base for the projects and have therefore been considered as an associated facility. Additional temporary project infrastructure during construction will include workers accommodation, compounds, storage areas, site access roads, tracks etc.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Two senior loans (investment amount not available at the time of disclosure).

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Baltyk II is an offshore windfarm that is being developed through a Joint Venture between Equinor Wind Power and Polenergia S.A.

Equinor is a Norwegian multinational energy company headquartered in Stavanger, Norway. It is primarily a petroleum company operating in 36 countries with additional investments in renewable energy. In the 2020 Forbes Global 2000, Equinor was ranked as the 169th-largest public company in the world.

Polenergia S.A. is the largest Polish private energy group consisting of vertically integrated companies operating in the field of energy generation from renewable and gas sources, distribution and trading as well as sale of electricity to retail and business customers.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Equinor ASA Parent Company -
- - - - MFW BALTYK II SP ZOO / MFW BALTYK III SP ZOO Client -
- - - - Polenergia SA Parent Company -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

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If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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