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Italy: Iberdrola receives €150 million EIB loan for renewable energy plants

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The European Investment Bank (EIB) and Iberdrola have signed a new agreement to accelerate the energy transition in Italy by developing new renewable energy plants. The EU bank has granted a €150 million green loan to build a portfolio of wind and solar energy projects with a total capacity of around 400 MW. These new facilities will

provide green, competitive energy equal to the average energy use of up to 260 000 households. The projects will involve a total investment of over €300 million.

The EIB will finance small and medium-sized solar and wind plants and their connection infrastructure. They will mostly be located in EU cohesion regions in southern Italy. The financing will also include ancillary infrastructure such as access roads, substations and interconnectors. This investment will not only expand clean energy generation, but also improve security of supply. It will boost economic growth and employment in the regions concerned. As a whole, the new infrastructure will create approximately 600 person-years of temporary work during the construction phase.