The European Investment Bank has signed a green loan agreement with Iberdrola for the 315 MW Windanker project in the German Baltic Sea. The financing is backed by a guarantee from the Spanish export credit agency Cesce, the first to be used under a new scheme supporting overseas green projects led by Spanish companies.
The loan totals €500 million. Windanker will use 21 Siemens Gamesa SG 14-236 DD turbines, each rated at up to 15 MW, with a 236-metre rotor and direct drive technology. The monopile foundations, up to 84 metres long and weighing up to 2,100 tonnes, are being installed by Van Oord’s vessel Svanen. Construction began earlier this month with the first monopile installation. Turbine installation is scheduled for 2026, with full commissioning planned for the fourth quarter of that year.
