The European Investment Bank (EIB) and Iberdrola have signed a new agreement aimed at accelerating Italy's energy transition, with the development of new plants for producing renewable energy.
The EIB has granted a €150 million ($160 million) green loan for several projects in the wind and photovoltaic sectors, with a total capacity of about 400 megawatts. The new plants will produce the green and competitive energy equivalent to the average consumption of at least 260,000 households. The total investment foreseen for the projects is more than €300 million ($320 million).
The EIB will finance small- and medium-sized solar, photovoltaic and wind installations, as well as the related connecting infrastructure. The projects mainly will be located in Southern Italy. The funding will also include ancillary infrastructure, such as access roads, substations and interconnections. These investments will not only increase clean-energy production, but also improve security of