PV Tech on LinkedIn: EDP bags €700 million for 1.9GW southern Europe renewables portfolio
Summary
The European Investment Bank (EIB) and Naturgy have finalised a 1 billion loan agreement to support the expansion of renewable energy in Spain. The funding will be directed toward the development of new solar and onshore wind power projects, the modernisation and hybridisation of existing facilities, and a number of investments in battery storage assets. The financing agreement we have signed with the EIB once again demonstrates and validates our commitment to the energy transition and to advancing the decarbonisation of the Spanish economy, said Francisco Reyn\xe9s Massanet, Executive Chairman of Naturgy. I would like to highlight the work done by Naturgys finance team led by Steven Fernandez to reach this agreement. When complete, this project should generate enough green electricity to power more than 1 million homes, contributing also to our energy security and strategic autonomy.