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Windtech International May June 2024 issue

 

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Iberdrola receives new recognition from the World Bank, through its private sector investment arm – International Finance Corporation (IFC). The institution and the electricity company have signed a loan, linked to ESG criteria (environmental, social and corporate governance), of 300 million euros for renewable projects in countries that depend on fossil fuels, such as coal, including Morocco, Poland and Vietnam. 
 
170 million euros of the agreed amount have already been committed to finance onshore wind energy projects in Poland. In addition, both institutions continue to analyse options for collaboration to support the development of new innovative clean energy projects in emerging countries, such as offshore wind and green hydrogen generation. The loan is part of the collaboration signed in May last year to promote energy transition in emerging countries. At that time, a green loan linked to sustainability targets of $150 million (approximately €136 million) was signed to finance digitalisation and energy efficiency improvements in the electricity distribution networks operated by Iberdrola's subsidiary in Brazil. Earlier, in 2022, IFC had already granted Neoenergia a loan for $115 million.
 
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