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- €8 billion in wind energy funding: BNP Paribas and EIB collaboration will drive investments across the EU.
- Strengthening EU wind power: Supports the European Wind Power Package and renewable energy goals.
- Accelerating energy transition: Reinforces BNP Paribas’ commitment to low-carbon financing.
BNP Paribas and the European Investment Bank (EIB) have signed an agreement that could generate up to €8 billion in wind energy investments across the European Union. This initiative aims to accelerate wind energy development, optimize supply chains, and improve grid interconnections.
How It Works:
- EIB’s Role: The EIB has provided a €500 million counter-guarantee to BNP Paribas.
- BNP Paribas’ Contribution: This enables BNP Paribas to create a €1 billion portfolio of bank guarantees to fund wind farms.
- Leverage Effect: Expected to mobilize up to €8 billion in additional real economy investments.
The agreement is part of the EIB’s €5 billion wind power initiative, announced in October 2023, supporting the European Wind Power Package. This initiative aims to facilitate the production of 32 GW of the 117 GW needed for the EU to reach its 2030 renewable energy targets.
Related Article: EIB, Societe Generale Partner to Unlock €8 Billion Investment in European Wind Energy Sector
“Guarantees like the ones EIB provides through this new financial instrument contribute to enabling the funding of essential projects that drive the green transition, support the decarbonization of the European economy, and strengthen industrial competitiveness.” – Ambroise Fayolle, EIB Vice-President.
This deal aligns with BNP Paribas’ strategy to finance low-carbon energy, which will comprise at least 90% of its energy production financing by 2030.
“BNP Paribas is pleased to reinforce our historic relationship with the European Investment Bank, this time to support the continent’s growing wind energy sector.” – Alain Papiasse, Chairman of Corporate and Institutional Banking, BNP Paribas.
“By supporting European Corporates along the Wind Value Chain, we believe our collective efforts will inspire innovation, foster sustainability, and pave the way for a more robust Europe.“ – Yannick Jung, Head of Global Banking, BNP Paribas.
The Bigger Picture:
This partnership demonstrates the power of strategic financing in driving Europe’s green transition, ensuring wind energy remains a key pillar of the EU’s energy independence and sustainability ambitions.
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