EIB approves EUR-54m loan for 100 MW of Spanish wind projects
Norvento wind turbine. Source: Norvento
The European Investment Bank (EIB) has approved the provision of EUR 54 million (USD 61.6m) in financing for four Spanish wind projects totalling 100.35 MW.
Norvento Enerxia SL will receive the above-mentioned sum to finance four projects in the province of Lugo, the region of Galicia, that range in size from 9 MW to 37 MW, according to information posted on the bank’s website. The total cost of the schemes is estimated at EUR 108 million.
The projects were awarded in the country’s second renewable energy auction that took place in May 2017. The process of authorising the wind farms and the relevant interconnection facilities has been concluded.
EIB says that this is one of the first greenfield renewable energy projects it finances in Spain after the moratorium in 2012 and the new regulatory framework.
In late October, Spanish lender Banco Sabadell announced it had agreed to help finance Norvento's 128 MW of wind projects in the autonomous community of Galicia.