GE Energy Financial Services and Green Investment Group’s €800 million financing for the 650MW onshore Markbygden ETT wind project in Sweden incorporates a number of standout features – the largest volume corporate PPA in the renewables sector to date, and a rare example of the EIB tapping ECA cover.
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Northvolt’s latest big-ticket ECA-backed financing has set a benchmark for European gigafactory deals. But can Europe’s green industrial policy keep up with the pace of change in a challenging market for manufacturing startups?
It’s still positive, and the benefits of the changes in the OECD Arrangement are already showing, says Angela Perez, head of structured finance at Spanish infrastructure and engineering company, Elecnor. She highlights the amount of patience still needed by EPC companies to get deals completed though.