EIB, CaixaBank support Navantia’s drive into the offshore wind market

The guarantees  will support manufacturing by Navantia’s renewable energy division Navantia Seanergies, which has extensive experience in the offshore wind sector, building substations and fixed and floating foundations, such as jackets and monopiles.

The deal will enable Navantia Seanergies to receive advance payments as well as to provide performance guarantees when taking on new offshore wind projects. It will also enable the company to pay its suppliers in advance for the supply of sub-components, supporting the entire wind value chain. 

Manufacturing will take place at Navantia Seanergies’ facilities in Fene, in Galicia and Puerto Real, in Andalucía in Spain, areas where per capita income is lower than the EU average. The agreement will thus support climate action and contribute to economic, social and territorial cohesion in the EU.

This is CaixaBank’s first green trade finance facility with EIB coverage, contributing to the bank’s efforts to boost financing in international trade of green technologies and materials under the European Wind Power Action Plan. It also aligns with the bank’s 2025-2027 Sustainability Plan, one of the pillars of the Group’s Strategic Plan.

The leverage effect of the EIB counter-guarantee is expected to mobilise additional funding from other investors, to support increased production and accelerate wind energy development, helping to stimulate investment in the real economy.

EIB director of financial institutions Gemma Feliciani said, “This new risk sharing agreement will unlock investment in manufacturing of offshore wind components at Navantia Seanergies, helping to accelerate the energy transition in Europe while strengthening its industrial competitiveness and strategic autonomy.”

Navantia Seanergies vice president  Javier Herrador said the agreement will help accelerate the energy transition and generate value throughout the supply chain. “It allows us to tackle new offshore wind projects with greater financial strength and to drive the growth of our network of partner companies, many of them local SMEs.”

The deal forms part of the EIB’s €5Bn wind power package, which was launched in 2023. The dedicated package of counter-guarantees improves access to finance for the wind energy sector.