EIB and Iberdrola sign two financing agreements for EUR 690m for renewable energy projects in Brazil and new electrical networks in Spain


20191205__ignacio_gal_n_y_emma_navarro_3The EU bank will provide EUR 250m to finance 15 wind farms that the company will build in north-eastern Brazil
This is the first agreement signed between the institution and Neoenergia, Iberdrola’s Spanish subsidiary

ENERGIA LIMPIA XXI. At the Climate Change Conference (COP25) being held in Madrid, the EIB and Iberdrola today announced two new agreements to promote climate action by investing in renewable energy projects and electricity distribution networks. To do so, the Vice-President of the EU bank Emma Navarro and the President of Iberdrola Ignacio Galán agreed two loans for a total of EUR 690m. EIB Vice-President Emma Navarro, head of climate action at the Bank and its operations in Spain and Latin America, remarked:

“We are delighted to be signing these agreements at the Madrid Climate Change Conference, because they are a great example of the EIB’s efforts to support climate action inside and outside of Europe…

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