Iberdrola gets loans for over 2 GW of Spanish renewables

July 9 (Renewables Now) – Iberdrola SA (BME:IBE) will receive EUR 800 million (USD 906.7m) in green loans from the European Investment Bank (EIB) and Instituto de Credito Oficial (ICO) for the development of over 2,000 MW of renewable energy projects in Spain.

EIB and ICO will extend EUR 600 million and EUR 200 million, respectively to finance the construction of more than 20 photovoltaic (PV) and wind projects, the Spanish energy company said on Wednesday. Together, these power plants will be able to generate enough power to meet the average annual energy consumption of almost 1 million households.

Among the schemes is a 328-MW PV plant located in the municipalities of Ceclavin and Alcantara.

“With the agreement we are signing today with the EIB and ICO, we are moving forward with our commitment to accelerate investment and put 3,000 MW of new capacity into service in Spain by 2022 and up to 10,000 MW by 2030,” Iberdrola president Ignacio Galan stated.

The new investment will create a total of 3,000 direct jobs during the construction phase.

(EUR 1 = USD 1.133)

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