White & Case advises BGK on National Recovery and Resilience Plan loan to Polenergia

Global law firm White & Case LLP has advised Bank Gospodarstwa Krajowego on a loan of up to PLN 750 million (€176 million) from the National Recovery and Resilience Plan (KPO) funds to Polenergia S.A. for the construction of the Bałtyk 2 and Bałtyk 3 offshore wind farms with a total capacity of 1440 MW.

The majority of funds from the KPO are intended to support Poland's energy transformation, including financing the construction and development of offshore wind farms. These investments strengthen Poland's energy security, contribute to the decarbonization of the energy sector and reduce the country's environmental emissions.

Polenergia S.A. is the largest Polish private energy group. It consists of companies operating in the areas of energy generation from renewable and low-emission sources, as well as the sale of electricity to business and retail customers.

The White & Case team in Warsaw which advised on the transaction included partner Grzegorz Abram and associates Magdalena Bachleda-Księdzularz and Klaudia Ochenkowska.

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