New Financing Deal Supports Europe’s Wind Energy Expansion

Hellenic Cables, the cable manufacturing division of Cenergy Holdings, is one of Europe's leading producers of submarine and land-based power cables.

A new financing agreement involving the European Investment Bank (EIB), HSBC and Hellenic Cables is set to support the development of wind energy infrastructure across Europe and strengthen the continent's renewable energy supply chain.

Under the arrangement, the EIB will provide a €60 million counter-guarantee to HSBC Continental Europe. This backing will allow HSBC to increase the advance payment and performance guarantees it issues to Hellenic Cables, helping the company participate in a larger number of renewable energy projects.

The initiative is supported through InvestEU and forms part of the European Commission's Wind Power Action Plan, which seeks to accelerate the growth of Europe's wind energy sector while reinforcing the industrial capabilities needed to support the clean energy transition.

Officials involved in the agreement say the partnership demonstrates how public and private financial institutions can work together to remove barriers to investment and support critical infrastructure projects.

Hellenic Cables plays key role in renewable infrastructure

Hellenic Cables, the cable manufacturing division of Cenergy Holdings, is one of Europe's leading producers of submarine and land-based power cables. Its products are used in major energy projects, including offshore wind farms, electricity interconnections between countries and power transmission networks that transport renewable energy to homes and businesses. As Europe increases investment in clean energy generation, demand for specialised cable infrastructure has grown significantly.

The company's involvement in offshore wind developments has made it an important contributor to Europe's efforts to expand renewable energy capacity while improving energy security and reducing dependence on fossil fuels.

The new financing support is expected to help Hellenic Cables secure and deliver projects that are considered essential to the continued growth of wind energy generation across the region.

Industry experts note that large renewable energy projects often require substantial financial guarantees before construction begins. Expanding access to these guarantees can help companies compete for contracts and undertake larger projects.

Agreement supports Europe's clean energy goals

The partnership is expected to contribute to broader efforts to strengthen Europe's industrial base while improving the resilience and competitiveness of the wind energy sector.

EIB Vice-President Yannis Tsakiris said Europe's transition to cleaner energy depends not only on renewable generation projects but also on strong manufacturing capabilities and effective cooperation between financial institutions and industry.

He noted that the agreement will support the deployment of strategic energy infrastructure while helping maintain Europe's leadership position in renewable energy technologies.

HSBC representatives described the deal as an example of how cooperation between public and private partners can accelerate the delivery of critical energy projects. The bank said the arrangement will help strengthen the wind power supply chain and support infrastructure development throughout Europe.

Hellenic Cables General Manager Kostas Savvakis said the agreement reinforces the company's role in supporting the continent's energy transition. He added that the financing partnership will strengthen its ability to contribute to major wind energy projects and other infrastructure investments that are central to Europe's decarbonisation ambitions.

As European countries continue investing heavily in renewable energy, initiatives such as this are increasingly viewed as essential for ensuring that manufacturers, developers and infrastructure providers have access to the financial tools needed to deliver projects at scale. Supporters of the agreement believe it will help accelerate the construction of energy infrastructure while contributing to long-term economic growth and climate objectives across the region.