Poland is increasing its commitment to the development of green energy sources through a new loan program for the construction of offshore wind farms. This initiative, financed from the National Recovery and Resilience Plan (KPO), aims to transform the Polish energy sector towards more environmentally friendly solutions.
Main program assumptions
Bank Gospodarstwa Krajowego (BGK) implements the program based on an agreement concluded on August 9, 2024, with the minister responsible for state assets, who acts as the Institution Responsible for Investment Implementation (IOI). The program offers attractive financing conditions:
- Loans can be granted in Polish zlotys or euros
- Interest rates are set on market conditions
- The loan period can be up to 28 years (not beyond 2053)
- Loan agreements must be signed by August 31, 2026
What can the funds be used for?
Financing can be used for projects that contribute to reducing pollution and CO2 emissions in energy production. Eligible expenses include in particular:
- Costs of construction, delivery, and installation of offshore wind farms (excluding onshore infrastructure)
- Purchase and installation of turbines and foundations
- Power output infrastructure, including offshore electrical substations and cabling
- Installation costs of all mentioned components
Project requirements
Projects applying for financing must meet several key criteria:
- Location in the Exclusive Economic Zone of the Republic of Poland
- Compliance with the Do No Significant Harm (DNSH) Principle
- Adherence to EU and national environmental protection regulations
- Minimum rated power of installed turbines within one project: at least 300 MW
Additionally, a condition for applying for a loan is the project’s participation in phase I offshore wind (outside the auction system) or receiving the right to cover the negative balance through an auction in phase II offshore wind.
Who can benefit?
The program is directed at:
- Enterprises or public sector entities involved in the implementation of offshore wind farm construction projects
- Companies that are direct or indirect owners/co-owners of the entity implementing the project
How and when to apply?
The application process is open and continuous, although it may be terminated or suspended if available funds are exhausted. Applications can be submitted until the last possible loan agreement is concluded, i.e., by August 31, 2026.
The program covers both projects that have not yet started and those that began after February 1, 2022.
Application process
To submit an application, prepare a complete set of documents with a qualified electronic signature and send them electronically to the BGK email address: sekretariatdrst@bgk.pl. Documents should be compressed to .rar format and password-protected, with the password to be provided by phone to an employee of the Strategic Relations Department.
Before submitting an application, BGK recommends prior contact for consultations regarding project requirements, legal aspects related to the loan, and the financing structure.
The loan program for the construction of offshore wind farms represents a significant step towards increasing the share of renewable energy sources in Poland’s energy mix. By supporting the development of offshore wind energy, Poland is not only striving to reduce CO2 emissions but also strengthening its energy independence and fulfilling its climate commitments.
Source: https://www.bgk.pl
Anna Faltus
An entrepreneur who pursues her activities in the renewable energy sector. She is the owner of such brands as: Szkolenia OZE, Akademia OZE, under which she organises specialised training in the field of renewable energy sources and connects contacts in the RES industry. Initiator and initiator of the RES Portal magazine project - an online educational and informational magazine that promotes access to expert knowledge on RES. She is the organiser of the international conference combined with the ONLINE PV Conference&Expo exhibition aimed at the photovoltaic industry, the PV SALES LAB conference and the Portal OZE Partners Day event series. She works with a wide range of experts from the RES industry and focuses on the reliable and substantive transfer of theoretical and practical knowledge. Advisor on entrepreneurship, company development and the development of marketing strategies.
