BNP Paribas and the European Investment Bank (EIB) have signed a new agreement aimed at mobilizing up to €8 billion in investments for the wind energy sector across the European Union. The deal, part of the European Wind Power Package, is designed to accelerate the transition to renewable energy while enhancing the competitiveness of Europe’s wind industry.

Under the agreement, the EIB will provide a €500 million counter-guarantee, enabling BNP Paribas to create a €1 billion portfolio of bank guarantees. This financial mechanism is expected to leverage additional investments, resulting in a total of up to €8 billion in funding for wind farm projects, supply chain improvements, and grid interconnections.

This collaboration supports the European Union’s goal of generating 45% of its energy from renewable sources by 2030, with wind energy expected to account for a significant portion of this target. Alain Papiasse, Chairman of Corporate and Institutional Banking at BNP Paribas, emphasized the bank’s commitment to advancing sustainable energy solutions, while Ambroise Fayolle, EIB Vice-President, highlighted the importance of the initiative for Europe's green transition.

The partnership aligns with BNP Paribas' strategy to direct at least 90% of its energy production financing towards low-carbon initiatives by 2030, reinforcing the bank's long-standing commitment to sustainable development.

Source: group.bnpparibas