BNP Paribas and EIB Partner to Boost EU Wind Energy with €8 Billion Investment Push

BNP Paribas and EIB Launch Major Initiative to Accelerate Wind Energy Projects Across Europe.

In a landmark move to support Europe’s energy transition, BNP Paribas and the European Investment Bank (EIB) have signed an agreement that is set to drive up to €8 billion of investments in wind energy projects across the European Union. This initiative aims to fast-track the development of new wind farms, enhance supply chain efficiency, and improve grid interconnections—contributing to Europe’s renewable energy targets.

Under the agreement, the EIB is providing a €500 million counter-guarantee to BNP Paribas, enabling the bank to establish a €1 billion portfolio of bank guarantees. This financial mechanism is expected to leverage up to €8 billion in total investments, supporting projects that will accelerate the EU’s wind energy capacity expansion.

The agreement is part of the EIB’s €5 billion initiative announced under the European Wind Power Package, introduced by the European Commission in October 2023. The program aims to support the production of 32 GW of wind power—essential for meeting the EU’s goal of generating 45% of its energy from renewables by 2030.

Driving Europe’s Energy Transition and Competitiveness

The EIB’s Vice-President, Ambroise Fayolle, emphasized the initiative’s importance, stating, “Guarantees like these play a critical role in enabling essential projects that drive the green transition, support decarbonization, and strengthen Europe’s industrial competitiveness.”

Alain Papiasse, Chairman of Corporate and Institutional Banking at BNP Paribas, highlighted the shared vision of both institutions, remarking, “This partnership reflects our mutual commitment to advancing sustainable energy projects that strengthen Europe’s economy while reducing its carbon footprint.”

Yannick Jung, Head of Global Banking at BNP Paribas, added, “With the EIB’s support, we aim to inspire innovation, foster sustainability, and help build a more resilient, low-carbon economy in Europe.”

Commitment to Sustainability and Energy Transition This collaboration aligns with BNP Paribas’ ongoing commitment to financing low-carbon energy projects, which will comprise at least 90% of the bank’s energy production financing by 2030. The initiative not only accelerates Europe’s renewable energy goals but also enhances energy independence and drives economic growth.

With up to €8 billion in potential investments, this partnership between BNP Paribas and the EIB marks a significant step forward in the EU’s efforts to transition to sustainable energy and achieve its climate targets by 2030.