Baku, Azerbaijan, April 1. The European
Investment Bank (EIB) and NORD/LB Norddeutsche Landesbank (NORD/LB)
have announced a new partnership to accelerate the transition to
clean energy across the European Union, Trend reports.
The financing will focus on supporting small and medium-sized
renewable energy projects across Europe, including photovoltaics,
onshore wind, and battery storage.
The partnership aims to improve energy independence and foster
innovation in the clean tech sector. The agreement was signed at
the Hannover Messe by EIB Vice President Nicola Beer and NORD/LB
CEO Jörg Frischholz, with the presence of Bernhard Kluttig, State
Secretary for Economic Affairs and Climate Action at the Federal
Ministry for Economic Affairs and Climate Action.
The EIB will contribute 125 million euros to the initiative,
with NORD/LB providing additional financing. The funds will target
renewable energy projects within EU countries, building on the
success of the first phase of the initiative, which supported
large-scale wind and solar projects in Germany and France.