EIB and CaixaBank join forces to support Navantia Seanergies' manufacturing capabilities for offshore wind energy components
Spain, Oct. 2 -- The European Investment Bank (EIB) and CaixaBank have signed a €50 million counter-guarantee agreement that CaixaBank will use to create a portfolio of bank guarantees under a green trade finance facility of at least €100 million to back the manufacturing capabilities of Navantia's renewable energy division Navantia Seanergies. Navantia has extensive experience in the offshore wind energy sector, by 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 su...
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