Iberdrola to Build Renewable Energy Network Co-Financed by European Investment Bank
June 12 2023 - 5:04AM
Dow Jones News
By Giulia Petroni
Iberdrola will build a network of 22 renewable-energy plants in
Europe after signing a 1 billion euro ($1.07 billion) loan with the
European Investment Bank.
The Spanish energy company on Monday said the loan will
co-finance the construction of 19 solar power plants and three
onshore wind farms in Spain, Portugal and Germany. The projects
will have a total installed capacity of 2.2 gigawatts.
The loan is part of the EIB's financing package in support of
REPowerEU, the Europan Union's Package of measures to tackle the
energy crisis sparked by Russia's invasion of Ukraine.
Iberdrola said the installations are set to provide energy equal
to the average annual energy consumption of more than one million
households.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
June 12, 2023 05:49 ET (09:49 GMT)
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