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POWER: EIB Grants €500mn Loan to BNP Paribas for Wind Investments

POWER
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The EIB will provide a €500mn counter-guarantee loan to BNP Paribas to support manufacturers in the European wind industry, the EIB said today.

  • The funds will allow BNP Paribas to set up a portfolio of up to €1bn of banking guarantees for new investment in wind farms in the EU, the EIB added.
  • The €1bn facility is expected to spur up to €8bn of private investment.
  • The project is part of a €5bn EIB package aimed at supporting the construction of new wind farms in the region.
  • The move comes after EIB provided CommerzBank and Spain’s Banco Santander with the same €500mn loan.
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The EIB will provide a €500mn counter-guarantee loan to BNP Paribas to support manufacturers in the European wind industry, the EIB said today.

  • The funds will allow BNP Paribas to set up a portfolio of up to €1bn of banking guarantees for new investment in wind farms in the EU, the EIB added.
  • The €1bn facility is expected to spur up to €8bn of private investment.
  • The project is part of a €5bn EIB package aimed at supporting the construction of new wind farms in the region.
  • The move comes after EIB provided CommerzBank and Spain’s Banco Santander with the same €500mn loan.