After the 2025 success for the financing of offshore wind projects in Poland, this speeding train will probably not slow down, but subsequent financing will have to take into account the refreshed rules of the game and will also depend on the results of the December CfD auction. Will the amended regulations and auction results require re-definition of the approach to the structures and conditions of financing offshore wind farms? Can the new legal and market reality affect so-called Phase I projects, and how?