The export credit agency (ECA) offering has evolved and proved ever resilient in 2021, with yet another buoyant year for the market. But there are still several updates - to policy and product - needed to leverage the full potential of export finance, especially given how well placed ECAs are to accelerate energy transition.
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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.