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 supply of the related sub-components, supporting the whole wind value chain. The manufacturing of offshore wind energy components will take place at Navantia Seanergies’ facilities in Fene (Galicia) and Puerto Real (Andalucía), all of them cohesion regions where the per capita income is lower than the EU average. The agreement support climate action and contributes to economic, social and territorial cohesion in the European Union, two of the eight EIB Group’s strategic priorities set out in the Group’s Strategic Roadmap for 2024-2027.
For CaixaBank, this is its 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, and it 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 increasing production and accelerate wind energy development, helping to stimulate investment in the real economy.
“We are very pleasant to join forces with CaixaBank to support wind energy equipment manufacturers in Europe” said EIB Director of Financial Institutions Gemma Feliciani. “This new risk sharing agreement will unlock investments in off-shore wind components carried-out by Navantia Seanergies contributing to accelerate the energy transition in Europe while strengthening its industrial competitiveness and strategic autonomy.”
Javier Broncano Managing Director at CaixaBank Institutional Banking said: “We are proud to announce this deal, which marks the establishment of the first green trade finance facility with EIB coverage at CaixaBank. This achievement was made possible thanks to the close collaboration among different teams of CaixaBank CIB -Institutional Banking, Trade Finance and Multilaterals- as well as to our excellent relationship with Navantia Seanergies and the EIB, which have been key for CaixaBank to be chosen from Navantia Group’s entire banking pool, and also selected as one of the financial intermediaries of the EIB’s European Wind Energy Action Plan”.
Javier Herrador, Navantia Seanergies Vice President stated “This agreement is highly relevant for continuing to accelerate the energy transition and generating value throughout the entire industrial ecosystem, as 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—which are key to the execution of our work”.
The green trade finance facility signed by Navantia Seanergies with CaixaBank is aligned with the Green Loan Principles established by the Loan Market Association (LMA) and it showcases CaixaBank CIB (Corporate and Investment Banking) support to sustainable financing though trade finance instruments under the CIB Transactional Banking area. At a corporate business level, in the first half of 2025, CaixaBank CIB reached € 10.38 billion in sustainable financing, formalizing a total of 413 deals across 19 countries, positioning the institution as the first Spanish bank in the Refinitiv-LSEG ranking (4th in Europe and 7th globally).
The deal forms part of the EIB’s €5 billion wind power package launched in 2023, a dedicated package of counter-guarantees to improve access to finance for wind power sector and support increasing newly installed wind energy generation capacity by 32GW. This EIB financing scheme is being activated through agreements with the sector’s main lenders like Caixabank. It is a key component of the the European Wind Power Package launched by the European Commission, and is designed to further accelerate a just and swift transition to net zero, while boosting home-grown industrial innovation.
The operation is guaranteed by InvestEU, the flagship EU programme to mobilise over €372 billion of additional public and private sector investment to support EU policy goals from 2021 to 2027.