The European Investment Bank (EIB) and Societe Generale have joined forces to mobilise up to €8 billion ($8.34 billion) in investments aimed at strengthening Europe’s wind energy sector. The initiative is a key step in advancing renewable energy infrastructure and aligning with the European Union’s green transition goals.
Under the partnership, the EIB will provide a €500 million ($515 million) counter-guarantee to Societe Generale, enabling the bank to create a €1 billion ($1.03 billion) portfolio of guarantees. These guarantees are expected to attract additional funding from private and institutional investors, unlocking €8 billion for wind energy projects. The initiative will support the development of new wind farms, power grid connections, and the wind energy supply chain across the European Union.
The partnership forms part of the EIB’s €5 billion ($5.1 billon) wind power package, unveiled during COP28 in 2023. The programme aims to support the EU’s renewable energy targets, including producing 32 GW of wind capacity by 2030. This effort contributes to the EU’s goal of generating at least 45% of its energy from renewable sources by the end of the decade.
Europe’s wind energy industry faces mounting challenges, including high production costs, supply chain disruptions, and lengthy permitting processes. This agreement seeks to alleviate these barriers by providing vital financial backing, fostering innovation, and accelerating project timelines.
Ambroise Fayolle, Vice-President of the EIB said, “Wind energy is crucial for Europe’s energy independence and decarbonisation. This partnership demonstrates how risk-sharing instruments can drive the green transition and strengthen industrial competitiveness.”
Anne-Christine Champion, Co-Head of Global Banking & Investor Solutions at Societe Generale emphasised, “Investments in renewable energy must accelerate to meet the challenges ahead. This partnership highlights the power of collaboration to drive a sustainable energy transition.”
The project is backed by the InvestEU programme, which aims to mobilise over €372 billion in investment by 2027. InvestEU combines public and private funding to support sustainable development, resilience, and economic recovery within the European Union.
