Mega $3.6 billion infusion- EIB fuels Spain’s renewable ambitions with loans for green energy expansion

Renewable developers in Spain have secured over $3.6 billion in loans from the European Investment Bank (EIB) since 2022. This amount represents more than 30% of the total debt capital raised by companies to finance solar and wind assets in the country during this period.  Enerdatics attributes this success to a combination of stable power prices and favorable government support, including streamlined permitting processes for renewable projects. Notably, industry leaders like Iberdrola and Endesa are leveraging these loan capital opportunities to expand their portfolios. Additionally, the EIB’s loan guarantee program, part of the REPowerEU initiative, is playing a crucial role in bolstering the lending capacity of the European Union’s foremost financial institution.

Solaria’s recent agreement with the EIB highlights Spain’s continued success in securing loans. The company has entered into a $1.8 billion loan framework with the bank, which will enable the construction of around 120 photovoltaic power plants, primarily in Spain, with a total capacity of approximately 5.6 GW. Solaria has already received an initial loan of about $295 million under this framework.

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