Release date: 24 September 2024
Promoter – Financial Intermediary
HSBC CONTINENTAL EUROPELocation
Description
The facility is a sub-operation with HSBC under the Lending Envelope (LE), which consists of sub-operations in the form of "Partial Delegation Linked Risk Sharing" with eligible Financial Intermediaries.
Additionality and Impact
The operation will contribute to the InvestEU objective of developing the energy sector.
The ambitious policy decarbonisation targets set in the EU towards 2030 require significant investment in renewable energy production capacity, notably in onshore and offshore wind energy infrastructure in the EU. This in turn requires a scale up of the supply chain manufacturing industry and ability to deliver components, services, and materials in a timely manner. It also requires an increased access to advance payment and performance guarantee lines for the OEMs, in a context of financial pressure (growing order books and challenges from rising inflation and interest rates) and with commercial banks reaching their exposure concentration limits vis-a-vis OEMs. The current
situation in the guarantee market for wind projects is exacerbated by the relatively limited number of EU commercial banks providing such demand guarantees in the EU.
The operation addresses the increasing bottleneck associated with the provision of guarantees to OEMs and will enable the activation of under-utilised already installed strategic Net-Zero technology manufacturing capacity of wind energy OEM suppliers in the EU, which would otherwise go idle and potentially be lost in part. This enabling effect will help support the proper functioning and access to finance of the entire wind-energy supply chain and will, in turn, contribute to deploy additional renewable energy generation capacity that will eventually be installed in the EU.
Objectives
The aim is to enable new investments in wind energy across 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 facility is part of the European Wind Power Package, in line with the EU green Deal objectives and REPowerEU plan.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 270 million
Total cost (Approximate amount)
EUR 4320 million
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 18/12/2025