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Référence: 20230833
Date de publication: 18 décembre 2024

Promoteur – Intermédiaire Financier

COMMERZBANK AG

Lieu

Description

The project will be implemented as an unfunded partial delegation linked risk sharing ("LRS") transaction with the financial intermediary, supporting it in providing certain types (see below) of guarantees (the "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).

Additionality and Impact

The operation will contribute to the InvestEU objective of developing the energy sector.

 

The ambitious policy decarbonisation targets set in the 2030 require significant investment in renewable energy production capacity, notably in onshore and offshore wind energy infrastructure in Europe. 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 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 of wind energy OEM suppliers in Europe, 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 Europe.

 

The operation  would not have been carried out (to the same extent) by the EIB without the InvestEU support.


Objectifs

The lending envelope 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.

Secteur(s)

Montant BEI envisagé (montant approximatif)

EUR 500 million

Coût total (montant approximatif)

EUR 8000 million

Aspects environnementaux

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Passation des marchés

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Statut

Signé - 11/12/2024

Milestone
À l'examen
Approuvé
Signé
12 avril 2024
11 décembre 2024

Clause de non-responsabilité

Avant d’être approuvés par le Conseil d’administration et avant la signature des prêts correspondants, les projets font l’objet d’une instruction et de négociations. Par conséquent, les informations et données fournies sur cette page sont indicatives.
Elles sont fournies à des fins de transparence uniquement et ne peuvent être considérées comme représentant la politique officielle de la BEI (voir également les notes explicatives).

Mots-clés correspondants

Allemagne Danemark Pays de l’UE Lignes de crédit