Iberdrola Raises EIB Finance For Italian RE Projects

European Investment bank Grants €150 Million Green Loan For Iberdrola To Build 400 MW Solar & Wind Power Projects In Italy

Iberdrola Raises EIB Finance For Italian RE Projects

  • Iberdrola has raised €150 million loan from the EIB to build solar and wind energy projects in Italy
  • It will support the development of 400 MW capacity, mostly located in Southern Italy as small and medium sized plants
  • EIB said these are Iberdrola’s 1st renewable energy plants in Italy; the financing will also be used to construct ancillary infrastructure

The European Investment Bank (EIB) has extended financial support in the form of a €150 million green loan for Spanish energy group Iberdrola to undertake the construction of around 400 MW wind and solar PV projects in Italy.

With this loan, Iberdrola has secured half of the total estimated investment of €300 million that it expects this portfolio to incur. “We are pleased to collaborate with Iberdrola in the development of its first renewable plants in Italy, and our commitment to achieving climate targets,” said EIB Vice-President Gelsomina Vigliotti.

The projects in this portfolio comprise small and medium sized solar PV and wind energy facilities along with their grid connection infrastructure. Iberdrola says these plants are mainly located in Southern Italy. It will also use the EIB financing to build ancillary infrastructure as access roads, substations, substations and interconnections.

Projects being supported are part of Iberdrola’s around 3 GW pipeline in Italy, including a 23 MW operational PV plant and 4 other licensed and ready-to-build projects with 116 MW combined capacity.

The EIB financing follows the bank approving €70 million loan for the company for its 188 MW solar power projects in Portugal recently (see Solar Power Activity Picking Up Steam In Portugal).

About The Author

Anu Bhambhani

SENIOR NEWS EDITOR Anu is our solar news whirlwind. At TaiyangNews, she covers everything that is of importance in the world of solar power. In the past 9 years that she has been associated with TaiyangNews, she has covered over thousands of stories, and analysis pieces on markets, technology, financials, and more on a daily basis. She also hosts TaiyangNews Conferences and Webinars. Prior to joining TaiyangNews, Anu reported on sustainability, management, and education for leading print dailies in India. [email protected]

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