BNP Paribas and EIB Partner to Unlock €8 Billion in Wind Energy Investments

BNP Paribas and the European Investment Bank (EIB) have signed an agreement aimed at generating up to €8 billion in wind energy investments across the European Union. The initiative is designed to accelerate wind energy development, enhance supply chains, and improve grid interconnections to support the EU’s renewable energy targets.

As part of the agreement, the EIB has provided a €500 million counter-guarantee to BNP Paribas, enabling the bank to establish a €1 billion portfolio of guarantees to fund wind farms. This structure is expected to leverage additional investments, mobilizing up to €8 billion in real economy funding for the sector.

The partnership aligns with the EIB’s €5 billion wind power initiative, launched in October 2023, which supports the European Wind Power Package. This broader effort aims to facilitate the production of 32 gigawatts of the 117 gigawatts required for the EU to meet its 2030 renewable energy targets.

Ambroise Fayolle, Vice-President of the EIB, stated, “Guarantees like the ones EIB provides through this new financial instrument contribute to enabling the funding of essential projects that drive the green transition, support the decarbonization of the European economy, and strengthen industrial competitiveness.”

The agreement reinforces BNP Paribas’ commitment to low-carbon financing, with the bank stating that by 2030, at least 90% of its energy production financing will be directed toward renewable energy. Alain Papiasse, Chairman of Corporate and Institutional Banking at BNP Paribas, remarked, “BNP Paribas is pleased to reinforce our historic relationship with the European Investment Bank, this time to support the continent’s growing wind energy sector.” Yannick Jung, Head of Global Banking at BNP Paribas, added, “By supporting European corporates along the wind value chain, we believe our collective efforts will inspire innovation, foster sustainability, and pave the way for a more robust Europe.”