The European Investment Bank (EIB) and CaixaBank have signed a counter-guarantee agreement to back Navantia Seanergies, the renewable energy division of Navantia. The funds will enable Navantia Seanergies to secure advance payments, provide performance guarantees for new offshore wind projects, and pay suppliers in advance for the supply of sub-components.
The agreement is valued at €50 million and will allow CaixaBank to create a portfolio of bank guarantees under a green trade finance facility of at least €100 million. This is CaixaBank’s first green trade finance facility backed by the EIB, part of a €5 billion wind power package launched in 2023 to improve access to finance for the sector.
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.
