Windar Renovables and Santander sign a 50 million sustainable credit line for East Anglia Three offshore wind farm

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Banco Santander and Windar Renovables announced on Monday the signing of a 50 million euro credit line. This financial operation is for the development of the East Anglia Three offshore wind farm, located in the North Sea, with a generation capacity of 1,400 MW, enough to supply 1.3 million homes in the United Kingdom.

Windar Renovables will supply 45 monopiles, large tubular steel structures that serve as foundations for offshore wind towers and are currently the most demanded product in the market. They will have a maximum length of 84 meters, weigh 1,800 tons and have a diameter of 10.6 meters.

To this purpose, Santander will issue the project guarantees, which have been qualified as sustainable according to the European Union taxonomy.

Orlando Alonso, Executive President of Windar, has commented that “this project strengthens our sustainability strategy, which translates into a firm commitment to support the reduction of emissions through our products, as well as in our industrial processes. The support of Banco Santander is an endorsement of our strategy of sustainable growth in the offshore wind sector and makes possible the development of this emblematic project for Europe”.

Manuel Iturbe, territorial director of Cantabria – Asturias at Banco Santander, said that “this operation is part of Banco Santander’s objective to support its clients in the transition to a low-carbon economy. Our global scale and technological capabilities, combined with our local experience and proximity to our clients, allow us to offer innovative solutions adapted to every need”.