- The EIB Group signed €2.1 billion in new financing for Danish projects last year, a 48% increase from 2023 and more than double the 2022 volume.
- 2024 flagship projects include support for dual-use infrastructure in the Port of Esbjerg, the Thor North Sea wind farm, and state-of-the-art medical research and development.
- Another notable highlight was the appointment of the Danish expert Merete Clausen as deputy Chief Executive of the European Investment Fund, the EIB’s subsidiary.
The European Investment Bank Group, consisting of the European Investment Bank and the European Investment Fund, invested a record €2.1 billion in Danish projects last year, a record volume in the country. Worldwide, the EIB Group investment also reached a record level of €88.8 billion, of which no less than €50.7 billion in climate and environmental financing.
In line with national and EU priorities, EIB financing in Denmark focused on key infrastructure, green energy, and innovation. The EIB signed a €115 million loan to upgrade and expand the Port of Esbjerg, Europe’s largest port for shipping offshore wind turbines, increasing its capacity to accommodate larger vessels, including for NATO operations. This way, the EIB supports Europe’s energy security and sustainability as well as its security and defence capabilities. In the energy sector, the EIB financed the massive 1.1 GW Thor wind farm project with a €1.2 billion loan to German company RWE. Located off the Danish coast in the North Sea, the new wind farm will produce enough green electricity to supply one in three Danish households.
In 2024 the EIB Group also saw a notable uptick in financing for smaller companies in Denmark. Through affordable loans, guarantees or equity, over half the Group’s 2024 financing went to Danish small and medium-sized companies and Mid-Caps. Notably, Danish scale-up companies like SNIPR Biome, Matr Foods and Norlase, signed up for EIB venture debt financing, which aims to make sure that critical technology from Europe can grow and thrive in the EU. In a similar vein, the European Investment Fund (EIF) made a €24.8 million commitment to PSV Hafnium, the first-ever Danish venture fund dedicated solely to deep tech. Building on its close ties with the innovation ecosystem and DTU, the fund will support science-based clean tech, health tech and next generation industrial solutions.
"2024 was a landmark year for the EIB Group in Denmark, with significant investments in green energy, innovative industries, and critical infrastructure, including the Thor wind farm and the Port of Esbjerg." said EIB Vice-President Ioannis Tsakiris. "We also significantly increased our financing for Danish SMEs, Mid-Caps and scale-ups, through both the EIF and the EIB. Deals with EIFO, Sydbank and Danish investment funds will help ensure that Danish companies have access to the financing needed to grow and innovate. Congratulations to all teams for this outstanding achievement, let’s keep the momentum in 2025."
The EIF signed 12 transactions in Denmark last year, including equity investments in PSV Hafnium, Nine Realms and Den Sociale Kapitalfond, and guarantee transactions with Denmark’s Export and Investment Fund EIFO, Kompasbank, Ringkjøbing Landbobank and others. The EIF, which saw Danish national Merete Clausen appointed as deputy chief executive just before year end, made available a total of €361.7 million for Danish SMEs in 2024.
Background information
The European Investment Bank is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, contribute to peace and security, and support a just and swift transition to climate neutrality. Denmark owns 2.64% of the European Investment Bank.