EIB and CaixaBank Seal €50 Million Deal to Boost Spanish Offshore Wind Manufacturing

Strategic Financing for Renewable Energy

The European Investment Bank (EIB) and CaixaBank have formally signed a €50 million counter-guarantee agreement aimed at significantly bolstering the manufacturing capabilities of Navantia Seanergies, the renewable energy division of the Spanish shipbuilder Navantia. The agreement, finalized around October 2-3, 2025, will enable CaixaBank to establish a green trade finance facility totaling at least €100 million. This initiative is designed to support the production of critical components for the offshore wind energy sector in Spain.

Empowering Navantia Seanergies' Production

The newly secured financing will provide Navantia Seanergies with enhanced financial flexibility. Specifically, it will allow the company to:

• Secure advance payments from its customers.
• Provide essential performance guarantees for new offshore wind projects.
• Pay its suppliers in advance for the necessary sub-components, thereby strengthening the entire wind energy supply chain, including local small and medium-sized enterprises (SMEs).

Navantia Seanergies specializes in the construction of vital offshore wind infrastructure, including substations and both fixed and floating foundations such as jackets and monopiles. Manufacturing operations will primarily take place at the company's facilities located in Fene, Galicia, and Puerto Real, Andalucía. These regions, identified as having per capita incomes below the EU average, will also benefit from the economic and social cohesion fostered by this project.

Broader European Green Energy Goals

This collaboration marks a significant milestone as CaixaBank's first green trade finance facility to receive backing from the EIB. The agreement is an integral part of the EIB's broader €5 billion wind power package, which was launched in 2023 with the objective of enhancing Europe's wind manufacturing capacity. It also aligns with the European Commission's Wind Power Action Plan and is guaranteed by the InvestEU program, which aims to mobilize over €372 billion in additional public and private investment by 2027 to support key EU policy goals.

Gemma Feliciani, EIB Director, commented that the deal will 'unlock investments in off-shore wind components' and contribute to Europe's energy transition. Javier Herrador, Vice President of Navantia Seanergies, stated that the agreement provides the company with 'greater financial strength' to undertake new offshore wind projects. CaixaBank's Javier Broncano highlighted the facility as a pioneering effort for the bank with EIB coverage. CaixaBank has demonstrated its commitment to sustainable financing, having reached €10.38 billion in such financing during the first half of 2025.