- European Investment Bank is the largest financier behind construction of a 390 MW offshore wind farm by Ocean Winds, an EDPR and ENGIE joint venture.
- BC-Wind is set to start production in 2028 and supply nearly half a million Polish households and businesses with clean electricity.
- Agreement marks third major offshore project signed by EIB in Poland this year.
The European Investment Bank (EIB) will contribute €600 million and become the largest lender to the construction of BC-Wind, a 390 MW offshore wind windfarm in the Baltic Sea set to supply nearly half a million Polish households and businesses with clean power. Developed by Ocean Winds, an ENGIE and EDPR joint venture, the wind farm will sit over 20 kilometres off Poland’s western coast and is expected to start production in 2028. It marks the fourth major offshore project backed by the EIB in Poland, and the third one signed in the country just this year.
“The EIB’s persistent commitment to supporting climate, economic competitiveness and Europe’s strategic sovereignty stands behind this beneficial, long-term loan for the construction and operation of BC-Wind, a new offshore wind project in the Polish economic zone in the Baltic Sea. As the climate bank of the European Union, the EIB is a trusted partner of ambitious energy transition in Poland from renewable sources to grid modernisation to energy efficiency and affordability. The latest addition to Poland’s rapidly growing offshore wind industry, BC-Wind will help reduce Poland’s carbon emissions and ensure energy security for people and businesses,” said EIB Vice-President Teresa Czerwińska.
BC-Wind will consist of 26 bottom-fixed turbines, each with a maximum capacity of 15 MW. Ocean Winds has already secured all of the required permits, as well as a 25-year contract for difference to underpin future sales. On Dec.1, the company announced the sealing of an around €2 billion financing agreement with 15 lenders, which means construction can start in 2026.
“In Poland, offshore wind energy is a key driver of the country’s energy transition and a real opportunity for the development of a revitalized economic sector. At Ocean Winds, we are convinced that Poland has the potential to become a regional leader in offshore wind, both in terms of clean energy production and industrial capability. Supported by key financial partners such as the European Investment Bank, our BC-Wind project is our contribution to this strategic process and a step toward increasing the share of renewables in the energy mix,” stated Bautista Rodriguez, Chief Operating Officer at Ocean Winds.
The EIB, ENGIE and EDPR are regular collaborators, and the EU’s development bank previously also supported an Ocean Winds’ pilot floating offshore project in France. Financing for BC-Wind is underpinned by the European Union’s InvestEU guarantees, as well as the RePowerEU plan to reduce the bloc’s dependence on fossil fuel imports by accelerating green transition. EIB support comes under TechEU, a flagship programme for reinforcing Europe’s technological leadership, including in the energy sector.
The EIB is a major financier of Poland’s offshore wind industry, providing strategic capital to the nascent industry and helping galvanise strong market interest. In 2025, the EIB extended leading support to Bałtyk 2 and Bałtyk 3 sister wind farms with a shared capcity of 1.44 GW, as well as the 1.5 GW Baltica 2, the EU’s largest such wind park to date. In total, the bank invested €1.7 billion in offshore wind energy in Poland this year. In 2023, the EIB also financed Poland’s first such project.
Background information
EIB
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.
The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. In Poland, the EIB Group invested €5.7 billion euros last year, nearly half of which went to climate and environment projects, including energy transition.
Ocean Winds
Ocean Winds (OW) is an international company dedicated to offshore wind energy, created in 2019 as a 50/50 joint venture owned by Spain’s EDP Renewables and France’s ENGIE. Founded on the belief that offshore wind is a key component of the global energy transition, OW develops, finances, builds, and operates offshore wind farm projects around the world.
As of 2025, OW's gross offshore wind capacity - already in operation, under construction, or with advanced development rights secured - reaches approximately 19 GW. Headquartered in Madrid, OW currently holds projects in 8 countries.
InvestEU
The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that invest in projects, leveraging on the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increasing their risk-bearing capacity and mobilising at least €372 billion in additional investment.
