EIB and Danske Bank Unlock €500 Million for Europe’s Wind Industry

The EU needs to add 117 gigawatts of wind capacity to reach its target of generating 45% of energy from renewable sources by 2030.

The European Investment Bank and Danske Bank have joined forces to strengthen Europe's wind energy industry through a financing agreement designed to help manufacturers produce and deliver turbines, components and other essential equipment for new wind farms. The EIB will provide Danske Bank with a guarantee of up to €250 million, giving the Danish lender the capacity to issue as much as €500 million in bank guarantees and helping unlock substantial private investment across the renewable energy supply chain.

Bank guarantees play a critical role before construction of a large wind project can begin because buyers typically require equipment manufacturers to provide financial assurances before production starts or turbines are delivered. These requirements can place pressure on manufacturers' available credit, limiting their ability to accept new orders even when market demand is strong. The risk-sharing arrangement with the EIB gives Danske Bank more room to support those companies, allowing manufacturers to expand production, invest in innovation and move planned wind projects towards delivery.

Europe needs another 117 GW of wind power to meet its 2030 target

Denmark receives approximately 60% of its electricity from wind, the highest share among EU countries. European companies also hold about 20% of the global wind market, making the sector an important source of industrial expertise, skilled employment and clean-energy technology at a time when international competition is increasing.

The EU needs to add 117 gigawatts of wind capacity to reach its target of generating 45% of energy from renewable sources by 2030. Building that capacity will require not only new wind farms but also stronger factories, reliable component suppliers and financial tools that allow manufacturers to handle larger order books without tying up the capital needed for everyday operations.

EIB Vice-President Ioannis Tsakiris said Europe needs more renewable energy alongside a strong domestic industry capable of supplying it. He explained that the partnership with Danske Bank would help wind manufacturers secure the financing required to grow, develop new technology and deliver projects, strengthening Europe's clean-energy supply chain and improving energy security.

Nordic financing expertise will support wind projects across Europe

The agreement is the EIB's first transaction of this kind with a financial intermediary in the Nordic region under the European Union's 2023 Wind Power Package. The programme was created to speed up wind energy development while improving the competitiveness of European manufacturers facing rising costs, supply-chain pressures and growing demand for new generating capacity.

Samu Slotte, Head of Sustainable Finance at Danske Bank, said the expansion of wind power depends on major investment, resilient supply chains and practical financing solutions that allow manufacturers to accept new orders. Danske Bank brings deep experience across the wind sector, strong relationships with companies throughout the supply chain and decades of knowledge gained in Denmark, one of the world's most developed wind energy markets.

Backed by the InvestEU programme, the operation also supports the REPowerEU initiative launched in 2022 to reduce Europe's dependence on imported fossil fuels and accelerate the use of renewable energy. It forms part of the EIB's €6.5 billion European Wind Power Package, which is expected to support 32 GW of new wind capacity.

The agreement addresses a less visible part of the energy transition: manufacturers must have access to financial guarantees before the turbines seen on the horizon can leave the factory. By sharing risk and increasing lending capacity, the EIB and Danske Bank are giving Europe's wind industry more freedom to turn orders into equipment, investment into electricity and industrial knowledge into greater energy independence.