White & Case has advised Bank Gospodarstwa Krajowego on providing a loan of up to PLN 750 million (EUR 176 million) from the National Recovery and Resilience Plan funds to Polenergia.
Polenergia is Poland’s largest privately owned energy group, with operations focusing on renewable and low-emission energy generation, as well as electricity supply to both business and individual consumers.
According to White & Case, the financing will support the construction of the Baltyk 2 and Baltyk 3 offshore wind farms, with a combined capacity of 1440 megawatts.
In 2024, White & Case advised on BGK's USD 3.5 billion bond issuance (as reported by CEE Legal Matters on July 25, 2024). In 2023, the firm advised BGK on its USD 1 billion bond issuance for Poland's armed forces support fund (as reported by CEE Legal Matters on November 8, 2023) and on BGK's May 2023 issuance of ten-year bonds, with a total nominal value of USD 1.75 billion, guaranteed by the State Treasury of the Republic of Poland, and with proceeds earmarked for the COVID-19 response fund (as reported by CEE Legal Matters on June 1, 2023).
The White & Case team included Partner Grzegorz Abram and Associates Magdalena Bachleda-Ksiedzularz and Klaudia Ochenkowska.
