Release date: 6 May 2025
Promoter – Financial Intermediary
NATIXISLocation
Description
The project will be implemented as an unfunded partial delegation linked risk sharing (LRS) transaction.
Additionality and Impact
The operation will contribute to the InvestEU objective of developing the energy sector. The ambitious policy decarbonisation strategy targets set in the 2030 require significant investment in renewable energy production capacity, notably in wind energy infrastructure in Europe. This in turn requires a scale up of the supply chain manufacturing industry and the 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 high 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 demanded guarantees in Europe. The operation, by specifically addressing the increasing bottleneck associated with the provision of guarantees to OEMs, will enable the activation of under-utilised already-installed strategic Net-Zero technology manufacturing capacity. That will occur through wind energy OEM suppliers in Europe, whose capacity would otherwise go idle and potentially be lost in part. This enabling effect will help support the proper functioning and the access to finance of the entire wind-energy supply chain and will, in turn, contribute to deploying additional renewable energy generation capacity that will eventually be installed in Europe. The operation would not have been carried out (to the same extent) by the EIB without the InvestEU support.
Objectives
The operation will support Natixis in providing certain types of guarantees (Advance & Performance Bonds) in relation to the obligations of Original Equipment Manufacturers (OEMs) for the supply of wind farms and the related wind value chain components (e.g. turbines, grid connection's infrastructures, cables, transformer stations, sub-stations and possibly sub-contractors)
Comments
Sub-projects need to comply with the EU acquis and the EIB will require to the Final Recipients under the new portfolio to take all the requisite measures to ensure that procurement procedures carried out will comply with the relevant EU procurement legislation and the applicable national legislation, provided that it is in conformity with EU rules.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 250 million
Total cost (Approximate amount)
EUR 4000 million
Environmental aspects
The aim is to support the European Union's wind energy sector through the supply of wind farm and the related wind value chain components (such as turbines, grid connection's infrastructure, cables, transformer stations, sub-stations and possibly sub-contractors). 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 8bn of investments into wind power related equipment. 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.
Procurement
The operation falls within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance". The Borrower / Financial Intermediary has adequate capacity, systems and processes in place for identifying, assessing, managing and monitoring environmental, climate and social (ECS) risks related to the potential sub-projects benefitting from EIB support. The Final beneficiaries will be required to comply with applicable national and EU legislation in respect of environmental and social matters, as appropriate.
Status
Signed - 19/12/2025