Baltic Power shareholder ORLEN secures PLN 3.5 billion from the National Recovery Plan for offshore wind development.

In line with its strategy, ORLEN is consistently expanding low- and zero-emission generation capacities, materially strengthening the energy security of Poland and the wider region. A key pillar of these efforts is investment in offshore wind. To advance these projects, the Group has secured PLN 3.5 billion from the National Recovery Plan (KPO) under agreements signed with Bank Gospodarstwa Krajowego (BGK).

The Baltic Sea is emerging as the energy hub of the entire region, where ORLEN is developing its key renewable assets – including the construction of the Baltic Power – the most advanced Polish offshore wind farm and preparation of the next projects including Baltic East. These initiatives strengthen Poland’s energy security while already stimulating economic growth and job creation across the region. Their implementation is supported in part by financing from the National Recovery Plan and by cooperation with Bank Gospodarstwa Krajowego, which contributes to advancing the energy transition and building a modern, sustainable economy.

The agreements between ORLEN and BGK provide financing of approximately PLN 3.5 billion. Of this amount, PLN 900 million will be allocated to refinance the equity contribution of ORLEN to the Baltic Power offshore wind farm, and the remaining funds to the Baltic East project.

Baltic Power, developed by ORLEN in partnership with Northland, is currently the most advanced offshore wind project in the Polish sector of the Baltic Sea. The first megawatt-hours of electricity are expected to flow next year, with the farm capable of covering up to 3% of Poland’s electricity demand.

In parallel, the ORLEN Group plans – together with future JV partners – to develop additional offshore projects with a combined capacity of around 5.5 GW. Baltic East, the most advanced project of the second offshore phase, adjacent to Baltic Power, is currently being prepared for bidding in the December 2025 capacity auction. Offshore wind is one of the ORLEN Group’s strategic growth pillars, supporting a sustainable and just energy transition.