BNP, EIB announce 1 billion euros in guarantees for EU wind projects

(Reuters) - BNP Paribas has signed an agreement with the European Investment Bank (EIB) to support wind energy projects across the European Union, which could generate up to 8 billion euros ($8.31 billion) in investments, the banks said on Thursday.

The euro zone's largest lender and the EIB said in a joint statement that they have agreed to establish 1 billion euros worth of bank guarantees backing new investments in wind farms in the EU, which should bring more investment to the sector.

($1 = 0.9632 euros)

(Reporting by Gianluca Lo Nostro; Editing by Tomasz Janowski)