BNP, EIB sign €500-million deal to support European wind

Multinational

PARIS, February 14, 2025 – BNP Paribas has signed an agreement with the European Investment Bank (EIB) to support new investments in wind projects in the EU with bank guarantees, the banks announced on Thursday.

Under the agreement, the EIB has extended a EUR 500-million counter-guarantee that will enable BNP to establish a EUR 1-billion portfolio of bank guarantees to back new investments in wind farms in the EU. The banks estimate that the leverage effect of the counter-guarantee could spur investments of up to EUR 8 billion in real terms.

The agreement falls under the EIB’s EUR 5-billion initiative to support the European Wind Power Package presented by the European Commission in October 2023, which consists of a series of measures to accelerate wind energy manufacturing across Europe, including faster permitting, improved auction designs and better access to financing.

The programme aims to support the production of 32 GW of the 117 GW of wind capacity needed for the EU to meet its goal of generating at least 45% of its energy from renewable sources by 2030.

“Guarantees, like the ones EIB provides through this new financial instrument, contribute to enable the funding of essential projects that drive the green transition, support the decarbonization of the European economy, and strengthen industrial competitiveness,” said EIB vice-president Ambroise Fayolle.

BNP, one of the eurozone’s largest lenders, is aiming for low-carbon energy to account for at least 90% of its energy production financing by 2030.

Photo by Zbynek Burival

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