Read this article in French German Italian Portuguese Spanish
EIB and Naturgy agree �1bn loan to invest in solar energy and wind projects
02 December 2024
The European Investment Bank (EIB) and Naturgy, Spain-based natural gas and electrical energy utilities company, have reached an agreement for a �1 billion loan to support investments in new solar energy and onshore wind power stations, as well as to modernise and convert existing sites into hybrid facilities in Spain.
Once completed, the project is estimated to generate enough green energy to power over 1,150,000 homes for a year (Photo: AdobeStock)
An initial portion of �400 million from the total agreement was signed in Madrid. A smaller portion of the loan will also be allocated to investments in batteries for renewable energy storage.
The investment is expected to increase renewable energy generation capacity in Spain by 2.3 gigawatts (GW), contributing to the country’s energy transition and aligning with the EIB Group’s broader climate action and environmental sustainability goals.
Once completed, the project is estimated to generate enough green energy to power over 1,150,000 homes for a year, based on average consumption.
The agreement was signed by Jean-Christophe Laloux, director general and read of EU lending and advisory at the EIB, and Francisco Reynés, executive chairman of Naturgy.
“This important financing agreement with Naturgy reflects the EIB’s strong commitment to supporting Europe’s energy transition,� highlighted Jean-Christophe Laloux, director general and head of EU lending and advisory at the EIB.
“When complete, this project should generate enough green electricity to power more than 1 million homes, contributing also to our energy security and strategic autonomy.�
±ØÓ®ÌåÓý
STAY CONNECTED
Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.
CONNECT WITH THE TEAM
