The European Investment Bank (EIB) has given a new boost to Europe’s energy transition by signing a EUR 500 million green loan with Iberdrola. This financing will support the construction of the Windanker wind farm, an offshore offshore facility offshore wind farm in German waters in the Baltic Sea.
The agreement is backed by Cesce, Spain’s export credit agency. For the first time, the EIB and Cesce are applying a joint guarantee for green projects developed outside Spain by domestic companies. The operation is part of the TechEU programprogram, designed to accelerate climate innovation in the European Union.
Advanced technology for Windanker wind farm
Windanker will have an installed capacity of 315 megawatts and will use 21 Siemens Gamesa Siemens Gamesa SG 14-236 DD SG 14-236 DD turbines, each with an output of up to 15 MW. These turbines feature a 236-meter rotor and direct-drive technology, which will improve operational performance and system reliability. It is estimated that the wind farm will supply renewable electricity to some 600,000 users per year.
The site is located in Mecklenburg-Western Pomerania, an energy transition region in Germany. During the construction phase, 2,200 jobs will be generated annually, in addition to 160 permanent skilled positions in operation. The project will also contribute to reducing 672,000 tons of CO₂ annually, reinforcing Germany’s target of achieving 80 % of renewable energy by 2030.
Financial structure and future marketing
The financing signed with the EIB will be complemented by the commercialization of electricity through long-term PPA contracts. long-term PPA contracts in the German market. The wind infrastructure will be fundamental to Iberdrola’s Baltic Hub, consolidating its presence in northern Europe and expanding its leadership in clean energy.
Windanker is a further step in Europe’s strategy to reduce dependence on fossil fuels. dependence on imported fossil fuels. imported fossil fuels. In line with the REPowerEU plan and the EIB Group’s Climate Roadmap, this project strengthens the continent’s energy security through local renewable generation.
Source and photo: Iberdrola
