The Galloper windfarm has become the first UK project to be backed by the European Fund for Strategic Investments (EFSI). The European Investment Bank will provide £225 million for the 56-turbine windfarm. The project is the UK’s first pre-construction offshore wind project finance deal.
EFSI was established earlier this year by the ­European Investment Bank and the European ­Commission and will enable increased lending and attract private capital for crucial projects by the ­European Investment Bank in strategic sectors such as renewable energy.