BAKU, Azerbaijan, February 11. The European Investment Bank (EIB) and Santander have signed a 500 million euro counter-guarantee agreement aimed at strengthening Europe’s wind energy sector, Trend reports.
The deal will enable Santander to issue up to 1 billion euros in bank guarantees, expected to unlock 8 billion euros in investments for wind energy equipment manufacturers across Europe.
The guarantees will support companies producing wind turbines, grid infrastructure, and key components, allowing them to secure advance payments and provide performance guarantees for new projects. The scheme will also help manufacturers pay suppliers upfront, easing supply chain constraints and accelerating production.
This agreement is part of the EIB’s 5 billion euro wind power package launched in 2023 to improve access to finance for the sector and expand Europe’s wind energy capacity by 32 GW. It also aligns with the European Commission’s broader strategy to accelerate the clean energy transition and strengthen industrial competitiveness.
"Wind energy is key to the EU's renewable targets, but manufacturers face challenges such as supply chain disruptions, high costs, and global competition," said EIB Director of Financial Institutions Gemma Feliciani. "This new framework will help de-risk investments, support production, and enhance Europe’s strategic autonomy."
Santander’s Ricardo Gamazo emphasized the industry’s need for financial backing to meet growing demand. "Our clients in the wind sector are handling a large order backlog, requiring substantial guarantees. This agreement provides much-needed capacity to secure credit lines, reinforcing Europe’s energy security in a sustainable way."