The European Investment Bank (EIB) recently signed a €175 million ($207 million) green loan with Iberdrola to support the construction and operation of two new wind farms in northern Portugal. These facilities will have a combined capacity of 274 megawatts, capable of supplying clean energy to 400,000 people, and will be integrated in Iberdrola’s Tâmega pumped storage hydropower complex (also called the Tâmega gigabattery).
It will be the first project with a hybrid connection between pumped storage and wind power in Portugal and one of the largest energy initiatives in the country.
This is the second EIB-financed operation with Iberdrola, backed by Cesce’s guarantee to support green projects led by Spanish companies outside Spain, contributing to the European Union’s climate action and environmental-sustainability objectives. The first operation was Iberdrola’s Windanker offshore wind farm, which is under construction in the German Baltic Sea.
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