Summary sheet
- Credit lines - Credit lines
The project consists in a Lending Envelope (LE) to enable new investment in wind energy in the EU through counter-guarantees on advance payment and performance bonds associated with supply contracts of EU manufacturers of wind energy equipment including grid interconnectors. The LE consists of sub-operations in the form of Partial Delegation Linked Risk Sharing with acceptable Financial Intermediaries, which support the EU green Deal objectives and REPowerEU plan, and is part of the European Wind Power Package.
The aim is to support the European Union's wind energy sector. The Lending Envelope is a dedicated Guarantee Programme to allow banks to provide additional guarantees related to supply contracts of wind energy equipment manufacturers in the EU. The envelope is expected to mobilise ca. EUR 6bn of advance payment and performance guarantees related to EU based wind power equipment manufacturers' production activities for new wind energy infrastructure in the EU. The sub-operations will be limited to manufacturing companies with production and/or assembly capacity in the EU for the supply of wind farm and related value chain components (such as grid connectors and transformers) be used in wind energy projects in the EU.
Sub-projects need to comply with the EU acquis, in particular in the field of environment, the EIB will require the intermediary institution to take all the requisite measures to ensure that the environment procedures carried out by the Final Recipients under the New Portfolio will comply with the relevant EU environment, social and procurement legislation and the applicable national legislation, provided that it is in conformity with EU rules.
Sub-projects need to comply with the EU acquis and the EIB will require the intermediary institution to take all the requisite measures to ensure that procurement procedures carried out by the Final Recipients under the new portfolio will comply with the relevant EU procurement legislation and the applicable national legislation, provided that it is in conformity with EU rules.