The European Investment Bank (EIB) and Spanish bank CaixaBank signed a €50 million deal to help Spanish shipbuilder Navantia Seanergies build more offshore wind equipment, according to the announcement. The agreement creates a green trade finance facility worth at least €100 million that will back Navantia’s wind energy division. The money lets Navantia get advance payments from customers and give performance guarantees on new offshore wind projects. Manufacturing will happen at facilities in Fene, Galicia and Puerto Real, Andalucía. This marks CaixaBank’s first green trade finance facility with EIB backing.
Europe needs more offshore wind farms to meet climate goals, but building them requires huge upfront investments and long-term guarantees. Navantia Seanergies builds the heavy steel foundations that hold wind turbines in the ocean, including jackets and monopiles. These components are massive and expensive to make, so companies need financial backing before they can start production. The facilities are located in regions where income is below the EU average, so the project also helps spread economic benefits. Both Galicia and Andalucía have been working to attract more renewable energy manufacturing.
EIB Director Gemma Feliciani said the deal will “unlock investments in off-shore wind components” and help Europe’s energy transition. CaixaBank’s Javier Broncano called it the bank’s first green trade finance facility with EIB coverage. Navantia Seanergies Vice President Javier Herrador said the agreement gives the company “greater financial strength” to take on new offshore wind projects. The deal also helps Navantia pay suppliers in advance, which supports smaller companies throughout the wind energy supply chain. Many of these are local small and medium enterprises that depend on contracts from bigger manufacturers.
The agreement is part of EIB’s €5 billion wind power package launched in 2023 to boost Europe’s wind manufacturing capacity. The European Commission’s Wind Power Action Plan backs this type of financing to help Europe build more wind farms and reduce dependence on energy imports. The InvestEU program guarantees the operation as part of its goal to mobilize over €372 billion in additional investment through 2027. CaixaBank reached €10.38 billion in sustainable financing in the first half of 2025, making it Spain’s top bank for green deals.
