Allen Overy Shearman Sterling and CMS have advised Equinor and Polenergia on securing over EUR 6 billion in project financing for the development of the Baltyk 2 and Baltyk 3 offshore wind farms in Poland. The financing was provided by a syndicate of approximately 30 financial institutions, including the Nordic Investment Bank, the European Investment Bank, Euler Hermes, KUKE, and BGK. Clifford Chance advised the financing institutions.
According to A&O Shearman, the Baltyk 2 and Baltyk 3 projects, jointly owned by Equinor and Polenergia on a 50/50 basis, will deliver a combined power capacity of 1,440 megawatts (720 megawatts per site), capable of powering approximately two million Polish households. Located between 22 and 37 kilometers off Poland’s Baltic coast, the farms will comprise 100 turbines, each with a 14.4-megawatt capacity. Full commercial operations are expected to commence by 2028.
The A&O Shearman team included Warsaw-based Partner Tomasz Kawczynski, Counsel Kamil Jankielewicz, Senior Associate Konrad Zawistowski, and Associates Aleksander Smakosz and Michal Rudzki as well as further lawyers in London.
The CMS team included Partners Lukasz Szatkowski, Marcin Bejm, and Agata Jurek-Zbrojska, Counsels Mateusz Wosiek, Grzegorz Paczek, and Mariusz Minkiewicz, Senior Associates Kacper Stanosz, Karol Jaworecki, Magdalena Czenko, and Aleksander Grabecki, Associate Miroslaw Sadowski, and Lawyers Marta Tarkowska-Losik, Anna Jarecka, Dominika Markowicz, and Marika Brokos.
The Clifford Chance team included Partner Andrzej Stosio, Counsels Michal Jadwisiak, Marcin Markowski, and Anna Biala, Senior Associates Aleksandra Bartoszewicz, Adrian Krol, Zuzanna Potoczna, Artur Gladysz, and Wojciech Wator, Associates Aleksandra Bialyszewska, Joanna Korycinska, Natalia Karasiewicz, Mateusz Leleno, Marta Swiderska, Oskar Ratajczak, Julia Rychlinska, and Zarina Tuliszka, and Trainees Aleksandra Korniluk and Natalia Zan.
