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The European Investment Bank (EIB) and Iberdrola have signed a new agreement to accelerate Spain's energy transition by developing new renewable energy capacity.
The EIB will provide a EUR 550 million green loan for the construction of a portfolio of projects with a total capacity of around 1,800MW. The total investment in the wind farms will amount to more than EUR 1.1 billion. In total, the new projects will create around 2,100 jobs per year during construction, with additional jobs in the operational phase, as well as those created in in the wider supply chain and other sectors. The EIB will finance solar PV plants and wind farms in a number of Spanish municipalities, mainly in rural areas of Castilla y León and Extremadura.
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