ANNOUNCEMENT 18 Oct 2018

In October 2018, the European Investment Bank (EIB) signed a loan agreement with Windplus S.A. to support its installation, operation and maintenance of floating offshore wind farm off the coast of Portugal.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Financed Projects, WINDFLOAT INNOVFIN FDP: http://www.eib.org/en/projects/loan/loan/20150240
The European Investment Bank, Project summary, Project No. 20150240, WINDFLOAT INNOVFIN FDP: http://www.eib.org/en/projects/pipelines/pipeline/20150240
The European Investment Bank, press release of 19 October 2018, EU supports breakthrough wind energy technology in Portugal with EUR 60 million loan granted by the EIB under InnovFin to Windplus: http://www.eib.org/en/infocentre/press/releases/all/2018/2018-259-eu-supports-breakthrough-wind-energy-technology-in-portugal-with-eur-60-million-loan-granted-by-the-eib-under-innovfin-to-windplus.htm

Inception date: 18 Oct 2018 | Removal date: open ended
Still in force

State loan

The loan agreement between the European Investment Bank (EIB) and Windplus S.A. was signed on 18 October 2018 and has a total value of EUR 60 million (approx. USD 69 million).

The loan will support the company's project to install, operate and maintain a floating offshore wind farm off the coast of Portugal.

In this context, the Commissioner for Research, Science and Innovation Carlos Moedas stated: "Today’s deal is another example of how EU financing is helping to lower the risk of rolling out innovative energy solutions like WindFloat. We need breakthrough technologies to accelerate the clean energy transition in Europe and lead the global fight against climate change. This will ultimately improve the quality of life and create new jobs and economic growth for citizens."

Windplus S.A. is a subsidiary of EDP Renováveis (79.4%), Repsol S.A. (19.4%) and Principle Power Inc. (1.2%). 

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

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