EIB and Intesa Sanpaolo launch €8 billion wind sector initiative

The European Investment Bank (EIB) and Intesa Sanpaolo have launched an initiative to unlock €8 billion in wind sector investments, as part of EIB’s €5 billion wind energy plan unveiled at COP28. Supported by InvestEU, this will support 32 GW of wind capacity toward the EU’s 2030 renewable energy target of 45%.

EIB will provide a €500 million counter-guarantee, enabling Intesa Sanpaolo to establish €1 billion in guarantees for wind farm supply chains and grid interconnections. This is expected to attract additional investments.

Earlier in 2024, EIB and FirstRand Bank committed €400 million to South Africa’s renewable energy sector.