The EIB and Iberdrola seal a green loan of 500 million for an offshore wind farm in Germany
The European Investment Bank (EIB) and Iberdrola have signed a green loan of 500 million euros to finance the construction of the offshore wind farm Windankeran ambitious clean energy project being developed in the waters of the Baltic Sea, off the coast of Germany. The operation has the Cesce guaranteethe Spanish export credit agency, which reinforces the financial security of the investment and supports its sustainable nature.
Windanker, currently under construction, will be one of the most advanced offshore wind farms in Europe, with a installed capacity of 315 megawatts (MW)enough to supply renewable electricity to about 600,000 people a yearaccording to Iberdrola estimates. The project will also allow reduce around 672,000 tons of CO₂ annuallycontributing decisively to the climate objectives of Germany and the European Union.
The agreement represents the first use of a guarantee jointly developed by the EIB and Cesce to support green projects of Spanish companies outside Spain. This new collaboration model seeks to promote climate action and environmental sustainability at a European level.
Windanker will be the Iberdrola’s third offshore wind farm in the Baltic Sea and will raise the technological bar with the installation of 21 Siemens Gamesa SG 14-236 DD wind turbineseach with a power of up to 15 MW. These machines, equipped with a 236-meter rotor and direct drive technology, will increase annual production by more than 30% compared to previous models, improving reliability and operational performance.
The foundation works began this month, carried out by the company Van Oordthrough its heavy cargo ship Svanen. The installation of the wind turbines is scheduled for 2026, the year in which the park is expected to enter commercial operation in its last quarter.
