Denmark’s export credit agency has backed an €850mn HSBC-led loan to French utility company Engie, to help finance European wind projects.
The Export and Investment Fund of Denmark (EIFO) said on February 6 it was providing a 95% buyer credit guarantee because Engie has inked supply contracts with Danish exporters for the projects.
HSBC is mandated lead arranger, co-ordinator, documentation bank, EIFO agent and facility agent. Citi, Commerzbank, Crédit Agricole and ING are also mandated lead arrangers.
EIFO and Paris-headquartered Engie declined to disclose the tenor of the facility and applicable interest rate.
Julie Bellais, a managing director in export finance at HSBC, said the deal “demonstrates the impact collaboration between corporates, governments and financial institutions can have in scaling Europe’s energy transition while supporting pan-European supply chains”.
In early 2025, EIFO guaranteed a nine-year US$500mn term loan to Engie, the company’s first deal with an OECD export credit agency.
EIFO chief commercial officer Peter Boeskov said he is “pleased that EIFO has signed another agreement with Engie, which secures international orders for Danish suppliers and supports a range of new wind projects across Europe”.
“The facility aligns closely with EIFO’s strategy of opening doors for Danish companies in global markets and backing projects that strengthen a sustainable and resilient energy system.”
EIFO is one of the largest export credit agency backers of renewable energy projects, thanks to a large wind technology sector in Denmark that includes firms such as Vestas and Siemens.
