Manufacturer Windar has signed a €50m financing deal with BBVA to deliver a contract related to the 476MW Baltic Eagle offshore wind project.
The financing facility will enable Windar to deliver 50 transition pieces for the foundations for the Baltic Sea wind farm.
“The operation has been designed specifically for Windar Renovables within the framework of BBVA’s commitment to sustainability and special support for sectors linked to renewable energies,” said Manuel Diez Alonso, director of BBVA’s corporate banking relations.
BBVA has committed to increasing the figure it will invest in sustainability projects to 2025 and the financing granted to Windar Renovables is part of that commitment.
Financing from the bank will help Windar to consolidate its position in the offshore wind market said company chief finance officer Carlos Concheso.
Windar has with headquarters in Asturias, Spain and production plants in Spain, Russia, India, Mexico and Brazil.
The company makers all types of offshore foundations, including transition pieces, piles, jackets and semi-submersible and spar type floating platforms.