French energy company Engie has secured a funding arrangement with EIFO, the Export and Investment Fund of Denmark.
The €500m syndicated credit facility, arranged by Société Générale and Citibank, aims to bring financial support on the back of several onshore projects worldwide involving Vestas wind turbines.
As of 2023, Engie has a consolidated installed capacity of 41.4GW from renewables.
It is estimated that the credit facility will co-finance a total capacity of more than 1GW across all projects.
The transaction is the first credit facility issued by EIFO to the French utility market.
Chief commercial officer at EIFO Peter Boeskov said: “We have been diligently working on establishing a cooperation with Engie, making this an ideal opportunity to show our shared interests.
“We are pleased to have finalised the agreement as it marks another milestone for EIFO.”
Chief financial officer of Engie Pierre-François Riolacci said: “We are very happy to further diversify our sources of financing with our first corporate loan involving an OECD Export Credit Agency.
“This agreement reinforces our relationships with suppliers and institutions from Denmark, which are well known for their commitment to the energy transition.”