Spanish energy company Iberdrola has signed an agreement with the European Investment Bank (EIB) and the Instituto de Crédito Oficial (ICO) to develop new renewable energy capacity in Spain.
EIB and ICO will allocate €600 million ($677 million) and €200 million ($225 million), respectively, to Iberdrola to finance the construction of more than 20 projects, which will provide more than 2,000 megawatts of green energy capacity to the equivalent of 1 million households.
Specifically, EIB and ICO will finance photovoltaic plants and wind farms in several different parts of Spain, most of which are in transition regions. Part of this financing will go toward a new 328-megawatt solar plant in Caceres, as well as additional wind farms and solar plants throughout Spain.
“The green recovery is the perfect opportunity to generate sustainable growth and massive future employment,” noted Ignacio Galan, president of Iberdrola. “With the agreement we are signing to
