Polenergia’s green bonds worth PLN 750 million have made their debut on Catalyst

Green Bonds worth PLN 750 million issued by Polenergia, Poland's largest private energy group, have made their debut on Catalyst. It is also the first debut on this market in 2025. The group will use most of the funds raised from the issue to build one of the largest infrastructure projects in Poland's history - the Baltic 2 and Baltic 3 offshore wind farms being developed jointly with Norway's Equinor. Green energy from both farms will power more than 2 million households in Poland.

Offshore is what will drive and electrify Polenergia in the near future. The offshore wind farms we are developing with Equinor in the Baltic Sea are strategic projects for our group, but they are also important for the country - Poland's energy transition is partly based on them. This affects the imagination and stimulates market interest. This was also confirmed by the issue of Polenergia's Green Bonds, which have just debuted on Catalyst. For us, the success of this issue is proof that investors see the potential of our projects and want to support us in their implementation. We are completing work that will culminate in a final investment decision for the Bałtyk 2 and Bałtyk 3 farms. This will open the way for us to build them.

Adam Purwin

CEO of Polenergia S.A.

Polenergia in October 2024 issued Green Bonds for the first time in its history. Its main purpose was to raise funds to finance offshore projects Baltic 2 and Baltic 3 with a total capacity of 1.44 GW. As a result of significant investor interest, the group increased the amount of the issue from PLN 500 million to PLN 750 million. Series A bonds, 750 thousand in number with a nominal value of PLN 1 thousand each, went to a total of 57 investors, including sub-funds.

Their interest rate is variable and equal to WIBOR 6M, plus 2.7 percentage points. The scheduled redemption date is October 16, 2029. Polenergia’s Green Bonds were issued under the Green Bond Framework, reviewed favorably by Sustainalytics.

Polenergia, together with Equinor, is developing three Baltic offshore wind farm projects in the Baltic Sea with a capacity of up to 3 GW, which will be able to provide clean renewable energy to 4 million households. In the first phase of offshore development, the Bałtyk 2 and Bałtyk 3 farms are to be built, consisting of 100 state-of-the-art wind turbines with a total capacity of 1.44 GW. The first electricity from the two farms is expected to flow as early as 2027, with the commercial operation phase starting in 2028.

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Polenergia’s green bonds worth PLN 750 million have made their debut on Catalyst

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