The European Investment Bank (EIB) and CaixaBank have signed a €50 million counter-guarantee agreement to support Navantia Seanergies, the renewable energy division of Navantia. CaixaBank will use the agreement to create a portfolio of bank guarantees under a green trade finance facility of at least €100 million.
The funds will allow Navantia Seanergies to secure advance payments, provide performance guarantees for new offshore wind projects, and pay suppliers in advance for the supply of related sub-components. Navantia Seanergies specialises in building substations and fixed and floating foundations, including jackets and monopiles, at its facilities in Fene (Galicia) and Puerto Real (Andalucía), Spain. This is CaixaBank’s first green trade finance facility backed by the EIB, part of the bank’s €5 billion wind power package launched in 2023 to improve access to finance for the sector.
