The Board of Directors of the European Investment Bank (EIB) has approved a €5 billion tailored initiative to support wind energy equipment manufacturing companies.
The financing is part of the EIB’s contribution to the European Wind Power Package. The Board of Directors agreed to improve access to finance to support new wind energy investment. Specifically, the EIB will provide €5 billion to strengthen the provision of commercial bank guarantees for investment by companies across the wind sector. It is expected that the scheme will support up to €80 billion of new wind energy investment and increase newly installed wind energy generation capacity by 32GW. The guarantees will back investment by companies manufacturing wind energy and grid interconnection equipment, as well as key components for the wind sector.
