Santander leads a syndicated line of sustainable guarantees for Haizea Wind Group for the development of offshore wind farms in the North Sea

Leading bank in renewable energy financing

This financing structure has an amount of 140 million and has the support of Cesce, which acts as an Export Credit Agency, providing insurance coverage in a percentage of each guarantee issued in order to support Haizea in the execution of the projects abroad that have been awarded to it.

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A group of financial entities led by Banco Santander and Haizea Wind Group have signed a syndicated line of sustainable guarantees for the development of offshore wind farms in the North Sea. This financing structure has an amount of 140 million and has the support of Cesce, which acts as an Export Credit Agency, providing insurance coverage in a percentage of each guarantee issued in order to support Haizea in the execution of the projects abroad that have been awarded to it.

 

The operation will allow the supply of the foundations of the offshore wind farms of East Anglia III and Hornsea III, both located in the North Sea. In the first case, Haiza will supply 50 XXL monopiles, large tubular steel structures that serve as foundations for offshore wind towers, for the construction of the East Anglia III wind farm, which will have a capacity of 1.400 MW and will be able to supply 1,3 million homes in United Kingdom.

 

In addition, the Basque industrial group will manufacture 111 XXL monopiles for the project Hornsea III. This development is

It will become the largest offshore wind farm in the world and plans to supply 3,2 million homes in the United Kingdom with a capacity of 2.850 MW.

 

Santander is a leading bank in renewable energy financing for more than 10 years, and in 2022 it has continued to be among the two best banks in number and volume of transactions globally, with an installed capacity in 2022 alone of 15,6 gigawatts (GW) that avoids the issuance of 152 million tons of CO2 into the atmosphere.

 

The operation has the support of Cesce, which acts as an Export Credit Agency with the aim

to support Haizea in the execution of foreign projects that have been awarded to it

 

Patricia Arias, territorial director of the Basque Country at Banco Santander, emphasizes: “The signing of this operation with Haizea represents the work of a team attached to an industrial project from its beginning, with all the difficulties and challenges that such an ambitious operation entails and with a such a positive impact on the economy, sustainability and employment of the Basque Country. For Santander, being close to our clients and working collaboratively makes us feel part of the solutions that help grow and contribute to the progress of companies and people.”

 

For its part, Alvaro Quintana, corporate financial director of Haizea Wind Group, comments: “The formalization of this operation is part of the Haizea Group's objective of asupport your clients towards a more sustainable economy by supplying large metal parts such as XXL monopiles and which is currently a key component within the offshore wind energy supply chain to ensure the ecological transition.

 

The trust placed by Banco Santander, Cesce and the rest of the entities that have participated in the syndicated line of guarantees will allow us to execute two of the most important offshore wind projects that exist

currently in Europe such as the East Anglia III and Hornsea III marine parks, both located in the North Sea.

Haizea Wind Group is an industrial group founded in 2017 and focused on the design, manufacture and assembly of large metal structures and cast components for wind turbines. Specialized in wind towers,

offshore foundations and large castings, has large facilities in Spain (Port of Bilbao, Agurain, Itziar and Aranda de Duero), Argentina and France and is rolling out an ambitious expansion plan for the coming years.

 

Carmen Vara, director of operations on behalf of the State of CesceHe notes: “We are very excited about this line of guarantees, which will allow Haizea to participate in the development of, among others, the East Anglia III and Hornsea III offshore wind farms. With this operation, Cesce reinforces its support for Spanish companies in the development of clean energy in their projects abroad.”