White & Case and CMS Advise BGK and Orlen on PLN 3.5 Billion Financing for Baltic Power and Baltic East Offshore Wind Farms

"White & Case advised Bank Gospodarstwa Krajowego (BGK) and CMS advised PKN Orlen on a PLN 3.5 billion financing provided under Poland's National Recovery and Resilience Plan for Orlen's Baltic Power and Baltic East offshore wind projects. PLN 900 million will fund Baltic Power and the remainder will finance Baltic East."

White & Case and CMS advised on the transaction, with White & Case assisting Bank Gospodarstwa Krajowego (BGK) and CMS advising PKN Orlen. The financing comprises PLN 3.5 billion provided under Poland's National Recovery and Resilience Plan to Orlen to support construction of the Baltic Power and Baltic East offshore wind farms. Of the total, PLN 900 million will fund the Baltic Power project, with the remaining proceeds allocated to Baltic East. Baltic Power is Poland's first and most advanced offshore wind farm and will comprise 76 turbines with a total maximum installed capacity of 1,140 megawatts. Baltic East will feature approximately 65 turbines with a total maximum capacity of 966 megawatts. Both projects include offshore substations, internal power and telecommunication lines, and connection infrastructure. White & Case represented Bank Gospodarstwa Krajowego (BGK) with a team composed by: Partner Grzegorz Abram; Associates Magdalena Bachleda-Ksiedzularz and Marlena Skowronska. CMS represented PKN Orlen with a team composed by: Partner Rafal Zakrzewski; Counsel Katarzyna Lesinska; and Senior Associate Katarzyna Mazur.

White & Case and CMS Advise BGK and Orlen on PLN 3.5 Billion Financing for Baltic Power and Baltic East Offshore Wind Farms

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