BNP Paribas has signed an agreement with the European Investment Bank (EIB) to stimulate up to €8 billion of funding for wind energy projects across the European Union.
Under the agreement, the EIB has provided a €500 million counter-guarantee, enabling BNP Paribas to establish a €1 billion portfolio of bank guarantees to support new wind farm investments in the EU. This counter-guarantee is expected to generate further investments of up to €8 billion in real economy terms. The agreement is part of a €5 billion initiative announced by the EIB in support of the European Wind Power Package presented by the European Commission in October 2023.
