Greece: EIB, HSBC and Hellenic Cables join forces under InvestEU to strengthen Europe’s wind power supply chain

• InvestEU-backed operation supports Hellenic Cables’ participation in wind energy projects across Europe
• Partnership between EIB, HSBC and Hellenic Cables strengthens Europe’s renewable energy value chain
• Initiative contributes to the objectives of the European Wind Power Action Plan

The European Investment Bank (EIB), HSBC and Hellenic Cables have signed an InvestEU-backed agreement aimed at supporting the company’s participation in wind energy projects across Europe. Under the agreement, the EIB will provide a €60 million counter-guarantee to HSBC Continental Europe, enabling the latter to expand the issuance of advance payment and performance guarantees for Hellenic Cables. 

The initiative forms part of the European Wind Power Action Plan, launched by the European Commission to strengthen Europe’s wind energy industry and accelerate the clean energy transition. By bringing together the expertise of a leading European financial institution, an international banking partner and a major European cable manufacturer, the agreement will help reinforce Europe’s renewable energy supply chain and support investment in critical energy infrastructure.

Hellenic Cables, the cables segment of Cenergy Holdings, is one of Europe’s leading manufacturers of submarine and land power cables. The company plays a key role in the delivery of infrastructure for offshore wind farms, electricity interconnections and power transmission networks, contributing to Europe’s energy security and decarbonisation objectives.

The agreement will support Hellenic Cables in undertaking projects that are essential to the expansion of wind energy generation. At the same time, it will contribute to strengthening Europe’s industrial base and enhancing the resilience and competitiveness of the European wind energy value chain.

“Europe’s transition to clean energy depends on strong industrial capabilities and effective partnerships. Through InvestEU, this cooperation between the EIB, HSBC and Hellenic Cables will support the deployment of strategic energy infrastructure and strengthen Europe’s leadership in the renewable energy sector,” said EIB Vice-President Yannis Tsakiris.

“This agreement is a prime example of how public and private partners can work together to accelerate Europe’s clean energy transition. Thanks to our strong collaboration with the EIB, we are pleased to support Hellenic Cables – a European leader in the cables industry – in strengthening the wind power supply chain and helping deliver critical energy infrastructure across Europe,” said Daniele Ferrero, Head of Corporate Coverage, Italy and Greece at HSBC.

 “This partnership with EIB and HSBC under InvestEU is a strong endorsement of our role in enabling Europe’s energy transition and strengthens our ability to deliver critical wind infrastructure across the continent.”, said Kostas Savvakis, General Manager of Hellenic Cables.

Background information    

The EIB Group   

The European Investment Bank (ElB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion of new financing and advisory services for over 870 high-impact projects in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investment union. Beyond long-term loans for large infrastructures, the EIB Group crowds-in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations. 

The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees and equity to improve access to finance for small and medium size businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilizes private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs. 

In 2023, the EIF together with six member states (France, Germany, Italy, Spain, Belgium and the Netherlands) launched the European Tech Champions Initiative, a fund of funds to scale-up innovative startups. This initiative has already enabled the creation of 13 European venture capital mega-funds and scaled up 38 companies, including 11 unicorns (with more than €1 billion in capital). 

About HSBC

Headquartered in Paris, HSBC Continental Europe is an indirectly held subsidiary of HSBC Holdings plc. HSBC Continental Europe comprises corporate and institutional banking, private banking, insurance and asset management activities across Continental Europe, including the business activities of 10 European branches (in Belgium, Czech Republic, Germany, Ireland, Italy, Luxembourg, the Netherlands, Poland, Spain and Sweden) and two banking subsidiaries in Luxembourg and Malta. HSBC Continental Europe’s mission is to serve both customers in Continental Europe for their needs worldwide and Group customers for their needs in Continental Europe.

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 56 countries and territories. With assets of US$3,306bn at 31 March 2026, HSBC is one of the world’s largest banking and financial services organisations.

About Hellenic Cables

With over 70 years of success, Hellenic Cables is a leading provider of cables and turnkey solutions worldwide, servicing the markets of energy transmission and distribution, renewables and offshore wind, telecom and data networks, construction, and industry. The company operates state-of-the-art production facilities in Greece and Romania and is currently expanding with a new cable manufacturing plant in the USA. Since 2012, Hellenic Cables has executed an investment plan of more than EUR 800 million to upgrade its production sites, transforming them into world-class facilities. Hellenic Cables represents the cables segment of Cenergy Holdings S.A. For further information, please visit www.hellenic-cables.com.

About InvestEU

The InvestEU programme provides the European Union with long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps to crowd-in private investment for the European Union’s strategic priorities such as the European Green Deal and the digital transition. InvestEU brings all EU financial instruments previously available for supporting investments within the European Union together under one roof, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is deployed through implementing partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.