Quaterly bulletin on a research funding
Investments of up to €8 billion in the wind sector
The European Investment Bank (EIB) and Intesa Sanpaolo have reached an agreement on a new initiative that will unlock investments in the European wind sector worth up to €8 billion. The agreement is part of the €5 billion EIB wind energy package, the investment plan that the European Bank announced at COP28 in Dubai and activated in July, and is the first under the package to benefit from InvestEU support. The EIB will provide Intesa Sanpaolo with a counter-guarantee of €500 million. The Italian banking group will thus be able to build a portfolio of bank guarantees for an amount of up to €1 billion with which it will support the supply chain and interconnection to the electricity grid for new wind farm projects across the EU. The leverage effect of the EIB counter-guarantee is expected to lead to the mobilization of further financing from other investors to support increased production and accelerate the development of wind energy, helping to stimulate investment in the real economy of an estimated amount to €8 billion.
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