European Investment Bank

The European Investment Bank (EIB) provided project financing for “SWM SANDBANK OFFSHORE WINDPARK”, the 288 MW Sandbank offshore wind farm in the German North Sea located approximately 90 km west of the island of Sylt. The EIB project page records the operation as “Unterzeichnet” (signed) with an EIB financing amount of EUR 500 million. The financing was intended to support the construction and operation of the wind farm. The EIB described the project’s objectives as contributing to EU and national renewable energy targets, supporting security of electricity supply, and delivering environmental benefits through increased renewable generation. The EIB information also notes that, due to the project’s technical characteristics, it fell under Annex II of the EU Environmental Impact Assessment (EIA) Directive and was subject to a mandatory EIA under national law. The EIA process included public consultation and expert input, after which the competent authority approved the assessment and granted a conditional construction and operating permit. The EIB page further states that the promoter and its joint venture partner were subject to EU public procurement procedures, with contract notices for supplies and services published in the EU Official Journal.