The Baltic Towers project is a strategic investment, aimed at constructing a state-of-the-art offshore wind tower manufacturing facility in Gdańsk. This investment represents a key component of the European energy transition, enabling the development of both domestic and European supply chains for the offshore wind sector. The Baltic Towers investment is a prime example of synergy and partnership-building at the European level between Poland and Spain.

The project was developed by Agencja Rozwoju Przemysłu S.A., a leading Polish development institution that actively supports strategic industrial projects, and GRI Renewable Industries, a highly experienced strategic industrial manufacturer with an impressive international track record in the wind tower sector. Their combined strengths, long-term vision and persistence have laid a solid foundation for this ambitious venture.

The project stands out not only for its scale, but for its innovative and highly comprehensive financing structure.

Unique consortium between NFOŚIGW Polish government agency, SMBC Group – leading Japanese financial institution, and Spanish development company COFIDES. Supported by Bank Pekao S.A., serving as the VAT Facility provider, as well as the Facility and Security Agent.
Complex hedging arrangements implemented with SMBC Group and HSBC acting as hedging providers.

We are very grateful to the team of advisors who have supported us over the last 2 years:
The transaction was led by Pekao Investment Banking supported by Final Milestone Corporate Finance Advisory and CRIDO with CEE Energy Group.

Legal advice to the Sponsor was provided by Clifford Chance, while Lenders were advised by CMS Poland.
Technical, market, insurance and financial model audit advice was provided by Arup, Wood Mackenzie, Marsh Polska, and Deloitte respectively.

“We extend our sincere appreciation to the owners and all stakeholders involved for their dedication and unwavering commitment throughout the investment process and in securing the necessary financing” said Marcin Jackowicz Baltic Towers CFO.