GRI Renewable Industries Accelerates Offshore Wind Power with Syndicated Loan
Deal News | Jul 24, 2025 | Cia Espanola de Financiacion d
COFIDES has participated in a significant syndicated loan valued at €140 million aimed at financing the Baltic Towers project, a collaboration between GRI Renewable Industries and Agencja Rozwoju Przemysu S.A. The initiative focuses on creating a pioneering offshore wind tower manufacturing facility in Gdask, Poland, set to enhance Europe's wind energy capabilities. Particularly, COFIDES contributed €38.5 million through its Fund for Foreign Investment, emphasizing its commitment to sustainable energy and European industrial growth. The financing operation was orchestrated by PEKAO Investment Bank of Poland. The project marks a milestone in the wind industry, with substantial participation from public and private entities internationally. Key figures from GRI Renewable Industries and COFIDES underscore the importance of this development in advancing technological leadership and supporting industrial autonomy in clean energy.
Sectors
- Renewable Energy
- Project Finance
- Industrial Manufacturing
Geography
- Poland – The location of the new offshore wind manufacturing facility and the involvement of Polish entities.
- Spain – The location of GRI Renewable Industries and involvement of COFIDES, which is based in Spain.
- Europe – The project focuses on enhancing the offshore wind power capacity in Europe, contributing to the EU's energy transition.
Industry
- Renewable Energy – The article is focused on a project related to offshore wind power production, an essential component of the renewable energy sector.
- Project Finance – The financial structuring and syndication of a major project finance operation is a core theme in the article.
- Industrial Manufacturing – The establishment of a manufacturing facility for wind towers indicates the relevance to the industrial manufacturing sector.
Financials
- 140 million euros – Total amount of the syndicated loan for the Baltic Towers project.
- 38.5 million euros – COFIDES' contribution to the syndicated loan from its Fund for Foreign Investment.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| COFIDES | Investor/Financial Contributor | Company | State-owned trading company managing financial funds from the Spanish State, contributing to international projects. |
| GRI Renewable Industries | Joint Venture Partner/Target Company | Company | Specializes in manufacturing towers and flanges for the wind power industry. |
| Agencja Rozwoju Przemysu S.A. | Joint Venture Partner | Company | Poland's state industrial development institution. |
| PEKAO Investment Bank | Financial Structuring/Advisor | Company | Polish Investment Bank structuring the project finance operation. |