Fossil Energy – Loan EIB
The European Investment Bank (EIB) has signed a €500 million green loan with Iberdrola to finance the Windanker offshore wind farm, a 315 MW project currently under construction in the German Baltic Sea.
The financing, guaranteed by Spain’s export credit agency Cesce, marks the first use of a joint EIB–Cesce guarantee scheme designed to support green projects led by Spanish companies outside Spain.
The Windanker project will provide renewable electricity for about 600,000 people each year and is expected to play a central role in advancing Germany’s clean energy transition, while also contributing to the EU’s REPowerEU plan to reduce fossil fuel dependence.
According to the EIB, the financing will strengthen Europe’s energy security and accelerate the deployment of advanced offshore wind technology. “EIB’s €500 million financing for Windanker helps bring cutting-edge wind power technology to the Baltic Sea for the benefit of German consumers and local economies,” said Jean-Christophe Laloux, EIB Director General of Financing and Advisory Operations within the EU.
“This loan not only strengthens Iberdrola’s financial structure and diversifies its funding sources, but also reflects the confidence of institutions such as the EIB and Cesce in our ability to deliver,” said José Sainz Armada, Iberdrola’s Chief Finance, Control and Corporate Development Officer.
