Windar Renovables has signed a EUR 50 million sustainable factoring line with BBVA (Banco Bilbao Vizcaya Argentaria) to finance the contract the company was recently awarded for the Baltic Eagle offshore wind project.

The contract financing, which will support Windar’s manufacturing and delivery of 50 transition pieces (TPs) for Iberdrola’s 476 MW project in Germany, has been classified as sustainable in accordance with the taxonomy of the European Union and is the first sustainable contract financing Windar has signed, according to BBVA.