BNP Paribas and the European Investment Bank (EIB) have reached a financial agreement aimed at boosting investment in wind energy within the European Union. This collaboration aligns with the European wind energy measures announced in October 2023.
A Bank Guarantee to Mobilize Funding
As part of this agreement, the EIB will provide a €500 million counter-guarantee, enabling BNP Paribas to establish a €1 billion portfolio of bank guarantees. This financial leverage aims to generate up to €8 billion in investments to support the development of new wind farms, the improvement of network infrastructure, and the optimization of the sector’s supply chain.
Supporting the Competitiveness of the Wind Energy Sector
This operation is part of a broader €5 billion program announced by the EIB to enhance the industrial competitiveness of the European wind energy sector. The overall objective is to increase wind energy production capacity by 32 gigawatts (GW) out of the 117 GW required to meet the European Union’s renewable energy targets by 2030.
Long-Term Ambitions
BNP Paribas affirms its commitment to financing low-carbon energy by integrating this operation into its energy transition strategy. By 2030, the bank expects 90% of its energy financing to be directed toward low-carbon sources. Meanwhile, the EIB strengthens its role as a key financing institution for strategic energy infrastructure in Europe.
