Spanish utility Iberdrola SA has announced that it has secured a green loan of 550 million euros to finance around 1,800 megawatts of wind and solar projects in the country.
Iberdrola said it would use financing from the European Investment Bank (EIB) to finance the construction of solar PV and wind farm projects across Spain, mostly in Extremadura, Castile and Leon Countryside. Projects that will benefit from the funding include the 200-megawatt Tagus and 80-megawatt Almaraz solar farm plans, as well as the 50-megawatt Valdemoro wind power project.
Investments in wind farms alone will exceed 1.1 billion euros, the Spanish utility said.
