Allied Irish Banks may get EUR-100m EIB loan for renewables

Sep 18, 2013 - The European Investment Bank (EIB) said on Tuesday it could extend an EUR-100-million (USD 134m) loan to Allied Irish Banks (ISE:ALBK), or AIB, for the development of renewable energy projects in Ireland.

The Irish nationalised lender will use the financing for small-scale renewable energy projects, mainly wind parks and potentially biomass, hydropower and solar plants. The total value of the projects is estimated at EUR 200 million.

The EIB is currently reviewing AIB’s application.

The renewable energy projects will help Ireland reach its goal to generate 20% of its energy mix from renewable energy sources by 2020.

(EUR 1.0 = USD 1.336)

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