The development of a portfolio of wind farms and photovoltaic parks in Spain will be financed in part by a new €550 million green loan agreement between the European Investment Bank (EIB) and global energy and electricity provider Iberdrola, the company said recently. It further added that the portfolio will have a projected capacity of 1.8 GW.
The renewable energy project is expected to produce enough electricity to run about a million homes. It will be constructed in several parts of Spain and is estimated to receive more than €1.1 billion in total funding.
This partnership will see:
- Increased production of sustainable products from Iberdrola
- Increase in clean energy capacity and its network assets
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