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EIB and Energia Solar back Spanish renewable initiatives
Investors - DECEMBER 13, 2019

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EIB and Energia Solar back Spanish renewable initiatives

by Kali Persall

The European Investment Bank (EIB) and Spain’s Energía Solar have signed an agreement to promote renewable energy developments in Spain, in an effort to help meet the European Union’s climate objectives.

In accordance with the agreement, which was signed this week at the EIB’s COP25 in Madrid, the EIB is investing €26 million ($28 million) to support the Solar Storm 200 project, which will enable the construction of 15 solar photovoltaic power plants in Spain with a capacity of 218 megawatts. They are expected to prevent the release of 116,000 tons of carbon dioxide into the atmosphere per year.

“The Spanish photovoltaic power sector is growing exponentially and Solar Storm is a major opportunity to invest in clean energy, in a project combining sustainability and long-term profitability,” said Enrique Selva, CEO of IM2 Energía Solar. “We have the opportuni

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