Nov 4, 2025
EIB approves a €500 million green loan for Iberdrola's Windanker initiative.
The European Investment Bank (EIB) has approved a €500 million ($576.75 million) green loan to support Iberdrola’s Windanker offshore wind farm, a renewable energy initiative under construction in the German Baltic Sea.
This financing is guaranteed by the Spanish export credit agency Cesce.
This project is the first to utilize a guarantee created by the EIB and Cesce for green initiatives by Spanish firms outside Spain, aligning with EU climate and sustainability objectives.
Windanker is Iberdrola’s third major offshore wind project in the German Baltic Sea and is a crucial part of the company’s Baltic Hub strategy.
Iberdrola stated that Windanker will contribute 315MW of offshore wind capacity, supplying renewable electricity to around 600,000 individuals each year.
The project employs advanced offshore wind technology with 21 Siemens Gamesa SG 14-236 DD turbines, each capable of generating up to 15MW.
These turbines feature direct drive technology, improving reliability and operational performance, and enabling over 30% more annual energy production compared to earlier models.
Innovative engineering and construction methods are being applied to enhance efficiency, safety, and sustainability.
Construction began earlier this month with the installation of the first monopile, and turbine installation is set for 2026. The project is expected to be fully operational in the fourth quarter of 2026.
Most of the renewable electricity generated by Windanker will be sold through long-term power purchase agreements in the German market.
EIB director general of financing and advisory operations within the EU, Jean-Christophe Laloux, remarked: “The EIB’s €500 million financing for Windanker helps introduce cutting-edge wind power technology to the Baltic Sea, benefiting German consumers and local economies. The green electricity produced will also help Europe reduce its dependence on fossil fuel imports.”
The project is part of TechEU, the EIB Group’s program aimed at accelerating innovation, with a goal of mobilizing €250 billion in investments by 2027 for startups, scale-ups, and innovative firms across Europe.
The project is anticipated to decrease emissions by approximately 672,000 tons of carbon dioxide annually and to support the national objective of achieving 80% renewable electricity by 2030.
Iberdrola’s chief finance, control, and corporate development officer, José Sainz Armada, noted: “This loan not only strengthens Iberdrola’s financial framework and diversifies its financing sources but also reinforces the confidence of leading institutions like the EIB and Cesce in our capacity to deliver.
“This support enables us to continue advancing projects such as Windanker, which is vital for electrification, in line with our new transformation plan.”
This financing is guaranteed by the Spanish export credit agency Cesce.
This project is the first to utilize a guarantee created by the EIB and Cesce for green initiatives by Spanish firms outside Spain, aligning with EU climate and sustainability objectives.
Windanker is Iberdrola’s third major offshore wind project in the German Baltic Sea and is a crucial part of the company’s Baltic Hub strategy.
Iberdrola stated that Windanker will contribute 315MW of offshore wind capacity, supplying renewable electricity to around 600,000 individuals each year.
The project employs advanced offshore wind technology with 21 Siemens Gamesa SG 14-236 DD turbines, each capable of generating up to 15MW.
These turbines feature direct drive technology, improving reliability and operational performance, and enabling over 30% more annual energy production compared to earlier models.
Innovative engineering and construction methods are being applied to enhance efficiency, safety, and sustainability.
Construction began earlier this month with the installation of the first monopile, and turbine installation is set for 2026. The project is expected to be fully operational in the fourth quarter of 2026.
Most of the renewable electricity generated by Windanker will be sold through long-term power purchase agreements in the German market.
EIB director general of financing and advisory operations within the EU, Jean-Christophe Laloux, remarked: “The EIB’s €500 million financing for Windanker helps introduce cutting-edge wind power technology to the Baltic Sea, benefiting German consumers and local economies. The green electricity produced will also help Europe reduce its dependence on fossil fuel imports.”
The project is part of TechEU, the EIB Group’s program aimed at accelerating innovation, with a goal of mobilizing €250 billion in investments by 2027 for startups, scale-ups, and innovative firms across Europe.
The project is anticipated to decrease emissions by approximately 672,000 tons of carbon dioxide annually and to support the national objective of achieving 80% renewable electricity by 2030.
Iberdrola’s chief finance, control, and corporate development officer, José Sainz Armada, noted: “This loan not only strengthens Iberdrola’s financial framework and diversifies its financing sources but also reinforces the confidence of leading institutions like the EIB and Cesce in our capacity to deliver.
“This support enables us to continue advancing projects such as Windanker, which is vital for electrification, in line with our new transformation plan.”