Posts Tagged ‘European Investment Bank’
Sweden: Pioneer ECAPS gets EIB financing to develop cutting-edge technologies for space and defence
The European Investment Bank (EIB) is lending Swedish aerospace company ECAPS AB €20 million to accelerate the development of high-performance rocket engines and propulsion capabilities. The financing will also support advances in dual-use technologies, which can be deployed for both civilian and defence purposes.
The support by the EIB is through its TechEU initiative and takes the form of venture debt, a type of loan designed for high-growth startups and scaleups that provides additional capital without diluting ownership. The goal is to bolster production of cutting-edge space technologies within the European Union and to enhance EU security.
The financing will contribute to ECAPS’s €47 million plan to scale its proprietary propellant and rocket engines, which are more efficient and cost-effective than traditional technologies. They also offer higher performance and safer handling compared to traditional hazardous solutions.
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Originally published on 10 Dec
Read MorePoland: With €600 million loan, EIB is the main financier behind new offshore wind farm
The European Investment Bank (EIB) will contribute €600 million and become the largest lender to the construction of BC-Wind, a 390 MW offshore wind windfarm in the Baltic Sea set to supply nearly half a million Polish households and businesses with clean power. Developed by Ocean Winds, an ENGIE and EDPR joint venture, the wind farm will sit over 20 kilometres off Poland’s western coast and is expected to start production in 2028. It marks the fourth major offshore project backed by the EIB in Poland, and the third one signed in the country just this year.
“The EIB’s persistent commitment to supporting climate, economic competitiveness and Europe’s strategic sovereignty stands behind this beneficial, long-term loan for the construction and operation of BC-Wind, a new offshore wind project in the Polish economic zone in the Baltic Sea. As the climate bank of the European Union, the EIB is a trusted partner of ambitious energy transition in Poland from renewable sources to grid modernisation to energy efficiency and affordability. The latest addition to Poland’s rapidly growing offshore wind industry, BC-Wind will help reduce Poland’s carbon emissions and ensure energy security for people and businesses,” said EIB Vice-President Teresa Czerwińska.
BC-Wind will consist of 26 bottom-fixed turbines, each with a maximum capacity of 15 MW. Ocean Winds has already secured all of the required permits, as well as a 25-year contract for difference to underpin future sales. On Dec.1, the company announced the sealing of an around €2 billion financing agreement with 15 lenders, which means construction can start in 2026.
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Originally published on 1 Dec
Read MoreLithuania secures €300 million EIB loan to boost defence on EU’s eastern border
In yet another major step to reinforce European security, the European Investment Bank (EIB) is providing €300 million to the Lithuanian government for investments in military infrastructure. The loan marks a strategic milestone in reinforcing the EU’s eastern border, where Lithuania plays a key role in NATO’s collective defence and rapid-response capabilities.
The financing will help Lithuania strengthen its defence capabilities through investments in key areas: harbour boats for piloting and towing, medical transport and equipment, and new infrastructure for residential, administrative, training, transport and logistics needs. The upgrades will support the Lithuanian Armed Forces and help meet North Atlantic Treaty Organization commitments.
The signed loan is part of a broader €500 million investment package approved by the EIB for this operation. It complements a €540 million loan approved earlier this year for the NATO military base in Rūdninkai, along with advisory support. Together, this brings EIB Group support for Lithuania’s defence to over €1 billion in 2025.
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Originally published on 7 Nov
Read MoreEIB and Iberdrola sign a €500 million green loan for the Windanker offshore wind farm in German Baltic Sea
The European Investment Bank (EIB) has signed a €500 million green loan to Iberdrola for the Windanker offshore wind farm, a flagship clean energy project currently under construction in the German Baltic Sea.
The financing is guaranteed by the Spanish export credit agency, Cesce. This transaction with Iberdrola marks the inaugural use of a guarantee developed by the EIB and Cesce, to support green projects led by Spanish companies outside Spain, contributing to the European Union’s climate action and environmental sustainability objectives.
The new project will generate clean energy for thousands of homes, accelerate Europe’s electrification and energy security, driving new employment, economic opportunity, and state-of-the-art renewable energy innovation.
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Originally published on 3 Nov
Read MoreEIB backs upgrades of Finland’s Olkiluoto nuclear power plant with €90 million in financing
The European Investment Bank (EIB) is lending Finnish energy supplier Teollisuuden Voima Oyj (TVO) €90 million to upgrade two nuclear power units in Finland. The project involves reactors 1 and 2 of a power plant on the southwestern island of Olkiluoto and aims to ensure continued safe, low-carbon electricity generation in line with national and European Union rules.
TVO plans to update automation and control systems and replace components known as steam separators in the Olkiluoto 1 and 2 units. The upgrades, which will be implemented progressively over a multi-year timeline, are essential for maintaining high safety standards and operational reliability at the Olkiluoto power plant, which has a total of three units.
The planned improvements are required under Finnish and EU nuclear-safety legislation. They are part of TVO’s long-term investment programme to ensure safe and efficient operation of the Olkiluoto plant and follow other EIB-backed enhancements at the site in 2016.
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Originally published on 30 Oct
Read MoreEIB Group opens office in Estonia to bolster strategic investments
The European Investment Bank (EIB) Group opened an office in Estonia today to drive strategic investments and sustainable growth in the country. The new office, located in the capital Tallinn, will focus on priority projects in areas including climate action, digitalisation, security and defence.
The EIB Group, which also includes the European Investment Fund (EIF), will use its presence in Tallinn to deepen cooperation with Estonian partners in the public and private sectors including small and medium-sized enterprises (SMEs).
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Originally published on 8 Apr
Read MoreEIB Group opens office in Latvia to support strategic investments
The European Investment Bank (EIB) Group opened an office in Latvia today to propel strategic investments and sustainable growth in the country. This office, located in the capital Riga, will focus on priority projects in areas including climate action, digitalisation, housing, security and defence.
The EIB Group, which also includes the European Investment Fund (EIF), will use its presence in Riga to deepen cooperation with Latvian partners in the public and private sectors including small and medium-sized enterprises (SMEs).
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Originally published on 7 Apr
Read MorePoland: EIB contributes €400 million to building the EU’s largest offshore wind farm
The European Investment Bank (EIB) signed an agreement to support Poland’s largest utility Polska Grupa Energetyczna (PGE) with a €400 mln loan towards the design and construction of Baltica 2, the European Union’s largest offshore wind farm to date. Baltica 2 will feature innovative technology for a 1.5 GW capacity and sit off the Polish coast in the Baltic Sea. Supported by major European funding, it is being developed by PGE and leading offshore wind company, Denmark’s Ørsted.
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Originally published on 30 Jan
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