EIB: €500M green loan to Iberdrola for the Windanker offshore wind farm in German Baltic Sea

The European Investment Bank (EIB) has signed a €500M green loan to Iberdrola for the Windanker offshore wind farm in the German Baltic Sea, announced the bank on 03/11/2025.

The financing is guaranteed by the Spanish export credit agency Cesce. This is the first transaction between these stakeholders.

The Windanker offshore wind farm is currently under construction, with the installation of the first monopile which started at the beginning of November 2025. Turbine installation will follow in 2026, with full commissioning expected in the fourth quarter of 2026.

Iberdrola will deploy 21 Siemens Gamesa SG 14-236 DD turbines, each up to 15 MW. These turbines feature a 236-meter rotor and direct drive technology, increasing reliability and operational performance, which intends to enable over 30% more annual energy production compared to previous models.

The project will:

• Drive new employment as well as economic opportunity in Mecklenburg-Vorpommern, with around 2200 FTEs (Full-time Employment) generated during construction and up to 160 skilled permanent jobs sustained by ongoing…