EU Invests Heavily in Wind Energy Sector

EIB Provides Financial Support to Wind Power Projects

Europe's Wind Energy Industry Thrives

In a significant boost to the European wind energy industry, the European Investment Bank (EIB) has announced a series of initiatives and partnerships to support the sector's growth.

The EIB has provided a €500 million guarantee to Ørsted, enabling the Danish energy company to develop and construct new wind farms. Additionally, the EIB has activated a €5 billion initiative to support wind energy manufacturers and has signed a €400 million framework loan agreement with Ørsted.

The European Commission estimates that the EU's new target of at least 425 GW of renewable energy by 2030 requires significant investments in wind power. The EIB's initiatives aim to accelerate this growth and help Europe achieve its climate goals.