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POWER: EIB, Societe Generale to Unlock €8bn for EU Wind

POWER
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 The EIB and Societe Generale have entered an agreement to unlock up to €8bn in wind investments across Europe, with the funds supporting the production of 32GW of wind capacity by 2030, the EIB said.

  • The funds will back new wind farms, supply chains, grid interconnections and accelerate wind production.
  • Additionally, it will address challenges like high costs, supply chain disruptions, and global competition.
  • The EIB will provide a €500mn counter-guarantee to Societe Generale.
  • And Societe Generale will create a portfolio of bank guarantees of up to €1bn.
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 The EIB and Societe Generale have entered an agreement to unlock up to €8bn in wind investments across Europe, with the funds supporting the production of 32GW of wind capacity by 2030, the EIB said.

  • The funds will back new wind farms, supply chains, grid interconnections and accelerate wind production.
  • Additionally, it will address challenges like high costs, supply chain disruptions, and global competition.
  • The EIB will provide a €500mn counter-guarantee to Societe Generale.
  • And Societe Generale will create a portfolio of bank guarantees of up to €1bn.