EIB and BNP Paribas Partnership to Drive €8 Billion Investment in Europe’s Wind Energy Sector

EIB and BNP Paribas Partnership to Drive €8 Billion Investment in Europe’s Wind Energy Sector

(IN BRIEF) BNP Paribas and the European Investment Bank (EIB) have announced a partnership to inject up to €8 billion into the European wind energy sector. With a €500 million counter-guarantee from the EIB, BNP Paribas will back wind farm projects and improve infrastructure to support the EU’s renewable energy targets. The investment, part of the European Wind Power Package, aims to develop 32 GW of wind energy to meet the EU’s 2030 goal of generating 45% of its energy from renewable sources. Both parties emphasize their commitment to advancing low-carbon energy solutions and boosting industrial competitiveness across Europe.

(PRESS RELEASE) LUXEMBOURG, 14-Feb-2025 — /EuropaWire/ — BNP Paribas and the European Investment Bank (EIB) have announced a strategic partnership aimed at providing a substantial boost to the wind energy sector across the European Union. This initiative, which is set to mobilize up to €8 billion in investments, will support the development of wind farms, enhance supply chain efficiencies, and improve grid interconnections, all contributing to Europe’s transition towards net-zero emissions.

The deal sees the EIB extend a €500 million counter-guarantee to BNP Paribas, enabling the establishment of a €1 billion portfolio of bank guarantees. This leverage effect is expected to unlock significant new investments, fueling the growth of Europe’s wind energy sector and contributing to the EU’s renewable energy targets. The partnership is part of the broader European Wind Power Package and aligns with InvestEU’s goal of generating over €372 billion in investments by 2027.

The agreement forms part of a €5 billion initiative by the EIB, which aims to accelerate wind energy development and bolster the competitiveness of the European wind industry. The ultimate goal is to produce 32 GW of the 117 GW needed for the EU to achieve its renewable energy target of 45% by 2030. BNP Paribas’ involvement underscores its long-standing commitment to sustainable energy, with plans to direct 90% of its energy production financing towards low-carbon energy sources by 2030.

EIB Vice-President Ambroise Fayolle emphasized the role of such guarantees in enabling essential projects that foster the green transition, decarbonize the economy, and boost industrial competitiveness. Alain Papiasse, Chairman of Corporate and Institutional Banking at BNP Paribas, reiterated the importance of their historic partnership with the EIB in advancing wind energy projects that benefit both the environment and the European economy. Yannick Jung, Head of Global Banking at BNP Paribas, stressed that this collaboration will inspire innovation and pave the way for a more resilient and sustainable Europe.

Background information

About the EIB

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives by bolstering digitalisation and technological innovation, security and defence, agriculture and bioeconomy, social infrastructure, high-impact investments outside the EU, and the Capital Markets Union.

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 projects in 2024. These commitments are expected to mobilise around €350 billion in investment, supporting 400 000 companies and 5.8 million jobs.

All projects financed by the EIB Group are in line with the Paris Climate Accord and the EIB Group does not fund investments in fossil fuels. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

In 2024, France was the largest recipient of EIB Group financing, with total investment of €12.6 billion. Two-thirds of this financing went to projects contributing to the fight against global warming and adaptation to its effects.

About BNP Paribas

BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 63 countries and has nearly 183,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.

About InvestEU and the wind power package

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 mobilise 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.

The European Commission presented the European Wind Power Package in October 2023 to tackle the unique set of challenges faced by the wind sector, including insufficient and uncertain demand, slow and complex permitting, lack of access to raw materials and high inflation and commodity prices, among others. In a specific Action Plan, the Commission set out a set of initiatives concerning permitting, auction design, skills and access to finance to ensure that the clean energy transition goes hand-in-hand with industrial competitiveness and that wind power continues to be a European success story. As part of this plan, in July 2024, the European Investment Bank (EIB) activated a €5 billion initiative to support manufacturers of wind-energy equipment in Europe.

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