BAKU, Azerbaijan, September 10. The European
Investment Bank (EIB) and Danske Bank have signed an agreement
under which the EIB will provide up to €250 million in guarantees
to support the European wind energy industry.


EIB said that the guarantee will enable Danske Bank to expand
its portfolio of bank guarantees for manufacturers producing and
delivering equipment for new wind farms. The EIB-backed
risk-sharing arrangement is expected to allow Danske Bank to
provide up to €500 million in guarantees to the European wind
sector, helping mobilize additional private investment.


Bank guarantees are a key requirement for commercial agreements
involving large wind projects, as equipment manufacturers typically
need to provide guarantees to buyers before starting production or
delivering turbines and other equipment.


“Europe needs more renewable energy and a strong European
industry capable of providing it,” said EIB Vice-President Ioannis
Tsakiris.


“Together with Danske Bank, we are helping wind manufacturers
secure the financing they need to grow, innovate and deliver new
projects,” he added, noting that supporting the European wind
industry would strengthen the clean-energy supply chain and energy
security.


EU-based companies account for around 20% of the global wind
market, while wind power generates about one-fifth of electricity
in the EU on average. Denmark has the highest share, at around
60%.


The agreement is the EIB’s first transaction of this type with a
financial intermediary in the Nordic region under the EU’s 2023
Wind Power Package, which aims to accelerate wind energy deployment
and strengthen the competitiveness of European manufacturers.







“Scaling wind energy requires significant investment, resilient
supply chains and practical financing solutions, including
guarantees that enable manufacturers to take on new orders and
deliver critical equipment,” said Samu Slotte, Head of Sustainable
Finance at Danske Bank.


He said Danske Bank, with its experience in Denmark’s wind
sector, could work with the EIB to help expand renewable energy
capacity across Europe.


Backed by the InvestEU programme, the operation also supports
the EU’s REPowerEU initiative, which seeks to reduce dependence on
imported fossil fuels and accelerate the deployment of renewable
energy.


Europe needs to add 117 gigawatts (GW) of wind power capacity to
meet the EU’s target of a 45% renewable energy share by 2030. The
EIB is supporting this expansion through its €6.5 billion European
Wind Power Package, which is expected to facilitate the development
of 32 GW of new wind capacity.


In March 2026, the Council formally adopted the amended European
climate law, introducing a binding intermediate climate target, for
2040, of a 90% reduction in net greenhouse gas (GHG) emissions
compared to 1990 levels. This new target strengthens the EU’s path
towards achieving climate neutrality by 2050 across all sectors of
the economy.


From 2036 onwards, high-quality international credits may be
used up to a limit of 5% of 1990 EU net emissions to make an
adequate contribution towards the 2040 target in a way that is both
ambitious and cost-efficient. This means that at least 85% of
emissions reductions must be achieved within the EU. Credits must
be based on credible activities of GHG reduction in partner
countries, in line with the Paris agreement.