The European Investment Bank (EIB) and Societe Generale have announced a new initiative aimed at stimulating investment in the wind energy sector across Europe. This collaboration marks a first for a bank based in France, involving a €500 million counter-guarantee from the EIB. Societe Generale will utilize this guarantee to create a portfolio of bank guarantees up to €1 billion, potentially unlocking €8 billion in investments.
This agreement is part of the EIB’s larger €5 billion wind power package, designed to enhance Europe's wind power manufacturing capabilities and expedite the transition to green energy. The operation is supported by InvestEU, an EU program with goals to mobilize over €372 billion in investments by 2027.
The financial backing from these guarantees will support new wind farm projects throughout the European Union, along with their supply chains and power grid connections. The leverage effect anticipated from the EIB counter-guarantee aims to attract further funding from additional investors, fostering increased production and accelerated development within the wind energy sector.
This initiative is integrated into the EIB's broader plan introduced during COP28 in 2023, which was activated later in Germany and Italy during 2024. The programme focuses on achieving 32 GW of the necessary 117 GW of wind capacity needed for the EU to meet its renewable energy target of at least 45% by 2030.
“Wind energy plays a pivotal role in achieving Europe’s energy independence," stated EIB Vice-President Ambroise Fayolle. He emphasized that producers face significant challenges such as elevated costs and global competition but noted that this agreement highlights how EIB’s risk-sharing instruments can address these issues effectively.
Anne-Christine Champion, Co-Head of Global Banking & Investor Solutions at Societe Generale, remarked on the unprecedented scale and speed required for adapting economies through investment. She affirmed that while Europe's success in wind-power is notable, supply chain challenges persist. "Societe Generale is investing in the future with innovative solutions," she said, underscoring how public-private partnerships like this one can foster sustainable transitions in energy sectors.