Iberdrola signs $159 M green loan with EIB
Iberdrola has signed a $159 M (€150 M) loan agreement with the European Investment Bank (EIB) to build 400 MW of wind and PV solar projects in Italy.
Image source: renews.biz
Italy: Iberdrola has signed a $159 M (€150 M) loan agreement with the European Investment Bank (EIB) to build 400 MW of wind and PV solar projects in Italy.
The EIB is to finance small and medium-sized solar and wind farms as well as their grid connection infrastructure. The projects are mainly located in southern Italy.
The financed projects will also include ancillary infrastructure such as access roads, substations and interconnections.
The total project investment will exceed $319 M (€300 M) and will generate green energy equivalent to the average consumption of up to 260,000 households.
“This new green loan signed with the EIB enables us to increase our contribution to a Europe capable of meeting its climate targets and increasing its energy independence. The European Investment Bank’s leadership is essential to achieve it,” said Iberdrola’s Executive Chairman Ignacio Galán.
Source: renews
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