ING PAN-EU WIND POWER PACKAGE RS

Promoter – Financial Intermediary

ING BANK NV

Location

• EU Countries

Description

The project will be implemented as an unfunded partial delegation linked risk sharing (LRS) transaction with ING Bank aimed at supporting it in providing advance payment and performance bonds in relation to the obligations of manufacturing companies (Original Equipment Manufacturers or "OEMs") for 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).

Objectives

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 (LE) 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 LE is expected to mobilise about € 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.

Sector(s)

• Credit lines - Credit lines

Proposed EIB finance (Approximate amount)

EUR 500 million

Total cost (Approximate amount)

EUR 8000 million

Environmental aspects

Sub-projects need to comply with the EU acquis, in particular in the field of environment, the EIB will require to the final recipients under the New Portfolio to take all the requisite measures to ensure that the environment procedures carried out 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.

Procurement

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.

Status

Approved - 18/12/2024