Banking Alliance Paves the Way for a Robust EU Clean Energy Future

Banking Alliance Paves the Way for a Robust EU Clean Energy Future

(IN BRIEF) NORD/LB and the EIB have launched a significant financing partnership to boost the transition to clean energy within the European Union. The collaboration will fund new small and medium-sized renewable energy projects, with targeted investments in photovoltaic systems, onshore wind farms, and battery storage. Bernhard Kluttig, State Secretary at the Federal Ministry for Economic Affairs and Climate Action, highlighted that this initiative not only tackles climate change but also creates business opportunities in Germany and Europe. The agreement, signed at the Hannover Messe by EIB Vice President Nicola Beer and NORD/LB CEO Jörg Frischholz, builds on previous successful projects in Germany and France. The initiative includes a EUR 125 million investment from the EIB, supplemented by additional financing from NORD/LB, aiming to support the rapid deployment of renewable energy infrastructure across the EU while enhancing energy security and reducing energy costs.

(PRESS RELEASE) LUXEMBOURG, 1-Apr-2025 — /EuropaWire/ — Norddeutsche Landesbank (NORD/LB) and the European Investment Bank (EIB) today unveiled a major collaboration designed to fast-track the shift toward clean energy throughout the European Union. This strategic alliance will channel financing into new small and medium-sized renewable energy initiatives across Europe.

Bernhard Kluttig, State Secretary at the Federal Ministry for Economic Affairs and Climate Action, emphasized the dual benefits of accelerating renewable energy investments. He noted that these efforts not only combat climate change but also present significant opportunities for German and European businesses. Kluttig highlighted that this partnership, which supports key projects in photovoltaics, onshore wind, and battery storage, will bolster energy independence while fostering innovation and economic growth within the clean tech sector.

The financing agreement was officially sealed at the Hannover Messe, with European Investment Bank Vice President Nicola Beer and NORD/LB CEO Jörg Frischholz presiding, alongside Bernhard Kluttig. Frischholz expressed satisfaction over the deepening relationship with the EIB, underscoring that this collaboration builds on previous successes and reiterates their commitment to advancing clean energy investments and innovation.

Nicola Beer added that investing in renewable energy is vital for ensuring a smooth energy transition, enhancing energy security, and leveraging Europe’s clean tech capabilities to reduce energy costs. Under this new initiative, the EIB will contribute EUR 125 million, while NORD/LB will provide additional financing to ease access to funds, which is essential for the rapid deployment of renewable energy infrastructure. The funding will be directed toward projects in critical areas such as photovoltaic systems, onshore wind farms, and battery storage across EU nations. This latest phase extends the initiative’s success, which over the past year has already supported major wind and solar projects in Germany and France.

Background information

About NORD/LB

The NORD/LB Norddeutsche Landesbank is a leading German commercial bank and part of the S-Finance Group. Its core business areas include corporate clients, special financing in the energy and infrastructure sectors as well as commercial real estate financing via Deutsche Hypo, capital market business, association business with savings banks, and private and commercial clients including private banking. The bank has its headquarters in Hannover, Braunschweig, and Magdeburg, with branches in other German cities and international locations including Luxembourg, London, New York, and Singapore.

About the EIB

As the EU’s climate bank, the European Investment Bank (EIB) finances projects in four priority areas: climate and environment, development, innovation and skills, small and medium-sized businesses (SMEs), infrastructure. The EIB works closely with EU institutions to implement the European Green Deal.

Media Contact:

Richard Willis
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+352 4379 – 82155

Press Office

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SOURCE: European Investment Bank