CaixaBank has participated in the financing of Dogger Bank Wind Farm, the "largest offshore wind farm in the world", which is being built off the northeast coast of England.
CaixaBank has participated as "Mandated Lead Arranger" in the financing that has just been made of phase C of this wind farm (phase C has required 3,000 million pounds), along with 27 financial institutions and three export credit agencies, and was already part of phases A and B, reports Monday in a statement.
Dogger Bank will be completed in 2026, will have a capacity of 3.6 GW and will produce enough clean and renewable electricity to supply 5% of the total demand of the United Kingdom, "equivalent to the consumption of about six million homes".
UK company SSE Renewables is leading the development and construction of the Dogger Bank wind farm, while Norway's Equinor will operate it over its expected 35-year operating life.
The UK is "a key market" for CaixaBank due to its size, economic outlook and strategic links with other major markets. Since 2015, CaixaBank has participated in 16 renewable energy project finance transactions in the UK, with a total capacity of more than 12,000 MW.
In 2021, the bank mobilized E29,050 million in sustainable financing, representing a 130% increase in the volume of sustainable financing in the whole of 2020.
In total, 8,250 million in financing linked to environmental, social and corporate governance (ESG) variables have been formalized, where environmental objectives, such as emissions reduction or energy efficiency, stand out, and 1,000 million in green financing.