Iberdrola secures €550mn EIB green loan
Funds will support 1.8GW expansion of onshore wind and solar capacity in Spain
Spanish utility Iberdrola has secured a €550mn ($562mn) green loan from the European Investment Bank (EIB) to support a 1.8GW expansion of onshore wind and solar capacity in Spain. The EIB, the lending arm of the EU, will finance photovoltaic plants and wind farms in a number of Spanish municipalities, mainly in rural areas of Castilla-Leon and Extremadura. Total investment in onshore wind, including the EIB funding, will be more than €1bn, Iberdrola says. "This financing agreement, which further strengthens our cooperation with the EIB, is a new boost for our projects in Spain at an important time when we need to speed up the energy transition and reduce our dependence on fossil fuels," say
![](/images/white-fade.png)
Also in this section
21 July 2024
Awards experience 20% increase in nominations this year, with submissions from 27 countries
18 July 2024
Platform developed at Scottish university uses advanced simulations and machine learning to find most cost-effective and sustainable combinations of materials for use in carbon capture
18 July 2024
Stockholm Exergi agrees to one of world’s largest deployments of CO₂ liquefication technology to enable transport of emissions captured from biomass power plant
11 July 2024
Watkins will leverage her financial acumen and strategic insight to lead Gulf’s commercial initiatives across media, events, and market intelligence