BBVA leads new offshore energy milestone with Ocean Winds in Poland

BBVA CIB has acted as Mandated Lead Arranger and Interest Rate Hedging Bank in the financing of the BC Wind project, a 390 MW offshore wind farm developed and owned by Ocean Winds, a joint venture between ENGIE and EDP Renewables. This transaction reinforces the bank’s commitment to the energy transition in Central Europe and consolidates its role as a key player in the financing of sustainable infrastructure.

BBVA has taken on the role of Mandated Lead Arranger and Interest Rate Hedging Bank for Ocean Winds, in the financing of its BC Wind project, strengthening BBVA’s position as a reference partner in the development of offshore wind energy in Poland. This marks the second such transaction led by the bank in the country this year, following its participation in the Baltyk II and Baltyk III wind farms.

With a total project finance of around €2 billion, the financing has attracted strong institutional and banking participation, underscoring the robustness of the project and market confidence in its long-term viability. BC Wind represents a new milestone in the deployment of renewable energy in Poland and the wider Baltic Sea region. Located 23 kilometres off the Polish coast, the wind farm will comprise 26 turbines, supplying clean energy to nearly half a million households.

BC Wind also joins a growing portfolio of projects that contribute to accelerating the decarbonisation of Europe’s electricity system, enhancing energy security, and driving industrial development in countries undergoing the energy transition.

“BC Wind is a landmark project that reinforces our commitment to financing sustainable solutions in key sectors for decarbonisation. By leading this transaction, BBVA demonstrates its ability to structure complex deals with strategic vision and high impact. We will continue to support our clients in the transition towards more sustainable and resilient energy models,” said Luis Miguel Palancar, Managing Director responsible for Structured Finance EMEA & Asia at BBVA CIB.

This transaction further strengthens BBVA’s position as a strategic partner in renewable energy financing in Europe, supporting initiatives that foster a low-carbon economy and advance towards a more sustainable, resilient energy model aligned with global climate goals.