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The European Investment Bank (EIB) will provide EUR 50m in financing to Renovables de la Ribera, a 50-50 joint venture between Iberdrola and Caja Rural de Navarra to build a new renewable energy project - the Cavar wind complex - in Navarra, Spain.
The new project, located between the municipalities of Cadreita and Valtierra, includes four wind farms and will have an installed capacity of 111MW. The complex is expected to become operational in the first quarter of 2020.
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