Key Impact Points:
- The European Investment Bank (EIB) will provide a €500 million counter-guarantee to Societe Generale, enabling €1 billion in bank guarantees.
- This initiative aims to unlock €8 billion in investment for European wind energy projects and supply chains.
- Backed by the InvestEU programme, this agreement is part of the EIB’s €5 billion wind power package targeting 32 GW of new wind capacity by 2030.
Driving Wind Energy Investments
The European Investment Bank (EIB) and Societe Generale have launched a landmark initiative to support wind energy manufacturers and projects across Europe. The EIB’s €500 million counter-guarantee will allow Societe Generale to issue up to €1 billion in bank guarantees, with the potential to unlock €8 billion in investments. These funds will focus on wind farm projects, supply chain improvements, and power grid interconnections, helping to accelerate the European green energy transition.
“This agreement underscores the effectiveness of the EIB’s risk-sharing instruments in addressing these obstacles, enabling the funding of essential projects that drive the green transition,” said EIB Vice-President Ambroise Fayolle.
Part of the EIB’s Wind Power Package
The agreement is a key element of the EIB’s €5 billion wind power package, designed to produce 32 GW of the 117 GW of wind capacity needed for the EU to meet its goal of generating 45% of energy from renewable sources by 2030. Launched during COP28, the package aligns with the European Wind Power Package and addresses challenges in permitting, supply chains, and industrial competitiveness.
“The breadth and speed of investment needed to adapt our economies have never been seen before,” said Anne-Christine Champion, Co-Head of Global Banking & Investor Solutions at Societe Generale. “This agreement shows how public and private stakeholders can collaborate to support a sustainable energy transition.”
Supported by InvestEU
The operation benefits from InvestEU, an EU programme targeting over €372 billion in investments by 2027 to drive green and digital transitions. By leveraging private and public funding, InvestEU aims to simplify financing and amplify investments in strategic sectors like wind energy.
Accelerating Europe’s Green Transition
This collaboration reflects the EIB and Societe Generale’s commitment to achieving Europe’s climate neutrality goals and enhancing energy independence. It also demonstrates the effectiveness of partnerships in overcoming barriers to wind energy development, ensuring that clean energy remains a European success story.
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