EIB Earmarks Funds for UK Offshore Wind Farm

The Board of the European Investment Bank (EIB) has approved EUR 5.8 billion of new financing for 29 projects across various sectors in the European Union, Africa, and Latin America, including an offshore wind farm in the UK.

“The EIB Board approved support for investment in renewable energy production with the financing of an electricity biomass generation plant in Spain and an off-shore wind farm project in the United Kingdom with a total investment of EUR 455 million,” EIB stated in a press release.

Offshore WIND contacted a spokesperson from EIB, who did not want to disclose further information, saying that details on the matter are confidential for the time being.

According to the “Projects to be financed” section on EIB’s website, the only offshore wind farm in the UK listed as being under appraisal is Neart na Gaoithe off Scotland.

The latest UK offshore wind project for which an EIB loan was approved is the Galloper offshore wind farm, which signed the financing deal in October 2015.

EIB has so far supported several offshore wind farms in the UK. Along with Galloper, these include Barrow-in-Furness, London Array, Thanet, Sheringham Shoal, Greater Gabbard, and West of Duddon Sands.

Related news

List of related news articles

Posted: 7 months ago

Swedish Offshore Wind Farm Is No More

Offshore wind O&M specialist Ziton has completed the decommissioning of the Utgrunden offshore ...

Categories:
  • Business & Finance
Posted: 7 months ago
Posted: 7 months ago

Virginia Affirms Offshore Wind Ambitions

Virginia's Governor Ralph Northam has released the 2018 Virginia Energy Plan which calls for the dev...

Categories:
  • Authorities
Posted: 7 months ago
Posted: 7 months ago

Germany Readies New Offshore Wind Call

Germany's ruling coalition has agreed to issue a special call to tender for additional renewable ene...

Categories:
  • Authorities
Posted: 7 months ago
Posted: 7 months ago

REBO Welcomes Offshore Wind Teams

Norther N.V. and Siemens Gamesa Renewable Energy have moved into a new building at the REBO terminal...

Categories:
  • Business & Finance
Posted: 7 months ago