The European Investment Bank (EIB) and Iberdrola have signed a new agreement to accelerate Italy's energy transition by developing new renewable energy plants.
The EU Bank has granted a €150 million green loan for the construction of a portfolio of wind and photovoltaic (PV) projects with a total capacity of around 400MW. The projects will involve total investment of more than €300 million. The EIB will finance small and medium-sized solar PV and wind power plants as well as their grid connection infrastructure. The financing will also include ancillary infrastructure such as access roads, substations and interconnections. The projects are mainly located in areas of southern Italy.