Wood has secured more than €1 billion in funding for its clients in Europe, enabling three significant clean energy projects to reach final investment decisions (FID).
In Lithuania, Wood‘s team of technical consultants served as Lenders’ Technical Advisors, advancing the nation’s largest onshore wind farm.
The project, developed by Nord/LB with banking partners KfW IPEX-Bank and the Nordic Investment Bank (NIB), is set for completion in 2026.
This 264-megawatt (MW) plant will power over 270,000 households and reduce carbon emissions by more than 200,000 tonnes annually.
Wood continues to lead project management as construction begins.
Wood also played a crucial role in facilitating Renewable Power Capital (RPC) in finalising financing for its 553 MW onshore wind portfolio in Sweden.
Comprising four wind farms, this project aims to significantly cut emissions from the country’s industrial sector.
Wood acted as a technical advisor, supporting the initial investment and conducting further due diligence to enable project financing.
The company will continue to provide expert guidance and supervision throughout the construction phase.
In Spain, Wood is acting as the owner’s engineer for the Catalina green hydrogen project, a pioneering initiative that recently received €230 million in funding from the European Hydrogen Bank’s first auction.
This project will combine 1.5 gigawatts (GW) of wind and solar energy to power a 500-MW electrolyser, producing green hydrogen.
This marks a significant step forward in Spain’s renewable energy landscape.
Azad Hessamodini, Executive President for Consulting at Wood, commented on the company’s achievements: “To profoundly transform and accelerate the diversification of the world’s energy mix, significant capital investment is required.
“Our consultants and technical advisors are skilled at supporting our clients in assessing the critical factors, such as technical and commercial feasibility including market returns, that enable them to reach final investment decisions, and I’m proud of the impact we’re making.”
Europe is leading the way in renewable energy projects, with a total offshore wind capacity of 25 GW across the EU.
Wood has been involved in over 70 per cent of these projects, positioning itself at the forefront of the region’s clean energy agenda.
The company’s extensive experience and expertise continue to drive the advancement of renewable energy solutions, contributing to a more sustainable future.
