The European Investment Bank (EIB) and Crédit Agricole CIB have signed a strategic agreement aimed at expanding financial support for wind energy across Europe. The deal includes a €500 million ($545 million) counter-guarantee from the EIB, which will allow Crédit Agricole CIB to build a portfolio of up to €1 billion ($1.09 billion) in bank guarantees for clients involved in the wind sector.
The guarantees are supported by InvestEU, the EU programme designed to mobilise more than €372 billion ($405 billion) in investment by 2027. According to the institutions, the mechanism is intended to help strengthen the European wind energy supply chain and electricity grid infrastructure, with the potential to generate as much as €8 billion ($8.7 billion) in investments.
The initiative is also expected to draw in additional private capital from other banking and institutional partners.
Jean-François Balaÿ, Chief Executive Officer of Crédit Agricole CIB, said the framework agreement “marks a strategic milestone… by consolidating our role as a supporter of major energy transitions in Europe,” adding that the collaboration would help advance sustainable infrastructure projects.
Emmanuelle Trochu, Global Head of Official Institutions Coverage at Crédit Agricole CIB, said the deal reflects the shared objective of “participating in the development of wind energy in order to increase Europe’s energy independence”.
Yves-Marie Gayet, the bank’s Global Head of International Trade & Transaction Banking, said the partnership aims to reinforce the wind energy value chain and “contribute to Europe’s sustainable energy security”.
