The European Investment Bank (EIB), HSBC Continental Europe, and Hellenic Cables have entered into a strategic partnership backed by the InvestEU programme to strengthen Europe’s wind energy supply chain and accelerate the continent’s clean energy transition. Under the agreement, the EIB will provide a €60 million counter-guarantee to HSBC, enabling the bank to expand the issuance of advance payment and performance guarantees for Hellenic Cables as it participates in major wind energy infrastructure projects across Europe.
The initiative supports the objectives of the European Wind Power Action Plan, launched by the European Commission to enhance Europe’s renewable energy industry, improve energy security, and reduce dependence on fossil fuels. By facilitating access to financial guarantees, the partnership will help Hellenic Cables secure and execute large-scale renewable energy projects more effectively, particularly in the offshore wind sector.
Hellenic Cables, a subsidiary of Cenergy Holdings, is one of Europe’s leading manufacturers of submarine and land power cables. The company plays a crucial role in delivering infrastructure for offshore wind farms, electricity interconnections, and power transmission networks. These systems are essential for transporting renewable electricity from generation sites to consumers and for supporting the integration of clean energy into national and regional grids.
The agreement is expected to strengthen Europe’s renewable energy value chain by supporting investments in critical infrastructure, increasing industrial competitiveness, and enhancing the resilience of the European wind energy sector. It also highlights the importance of public-private collaboration in achieving the European Union’s climate and energy goals.
Since 2012, Hellenic Cables has invested more than €800 million in upgrading its manufacturing facilities in Greece and Romania and is currently expanding with a new cable production plant in the United States. The company’s continued growth reflects increasing global demand for advanced energy transmission solutions that support renewable energy development.
The partnership demonstrates how financial institutions and industrial leaders can work together to accelerate renewable energy deployment, strengthen Europe’s strategic industries, and contribute to long-term decarbonization objectives. Through the support of InvestEU, the project will help mobilize additional investment in clean energy infrastructure, reinforce Europe’s leadership in wind power, and support the transition toward a more sustainable and energy-secure future.
