€ 1 billion in support of the wind power supply chain with EIB

Thanks to an agreement with the European Investment Bank (EIB), the IMI Corporate & Investment Banking Division of Intesa Sanpaolo is making available to the companies operating in the wind farm sector and those providing and installing systems for interconnecting such plants to “Made in Europe” electric grids credit lines for EUR 1Bn, backed by EIB guarantees of EUR 500M.

Given the strong focus on green transition in Europe, this is a crucial moment for the wind power supply chain in which to intervene in favour of the competitiveness of European producers, who are often limited in credit and guarantees.

Intesa Sanpaolo has thought of an innovative instrument which, thanks to the counter-guarantee mechanism, allows companies to start the construction of strategic public works and infrastructures; companies, in fact, must issue a performance bond (bank guarantee) to guarantee the construction in order to initiate works and collect the agreed advance payments.

The Intesa Sanpaolo Group is once again a promoter of innovation in the dialogue between the public and private sectors, thus contributing to the evolution of economy and industry at both national and international level.

Intesa Sanpaolo and EIB have collaborated on 15 transactions over the last five years for a total of almost EUR 2.4Bn, financing SMEs and MidCaps for over EUR 4.5Bn, thus enabling the construction of major infrastructure works, such as the Palermo-Catania railway line  and the modernisation of La Spezia port.