EIB loans EUR 45m for 96-MW of EDPR wind projects in Portugal

EDP Renovaveis wind farm

December 12 (Renewables Now) - The European Investment Bank (EIB) has granted EUR 45 million (USD 50m) to Eolica da Linha SA, a fully owned subsidiary of EDP Renovaveis SA (ELI:EDPR), for 96 MW of wind projects in Portugal.

EIB is helping finance three schemes -- the 20.5-MW Maunca, the 28.8-MW Vigia and the 46.8-MW Penacova wind farms, being built in the North and West of the Iberian country, EDP said on Thursday.

The three projects will use a total of 31 turbines, of either 2-MW or 3.6-MW unit size.

Banco Portugues de Investimento (BPI) is co-financing the projects, which include electrical equipment and civil works. This is EIB’s first investment in Portugal since the approval of its new Energy Lending Policy and the new climate objectives, it said.

Earlier this week, the EU bank announced it had invested EUR 76.5 million in a 300-MWp Spanish photovoltaic (PV) project and that it would become an equity partner in the Solar Storm 200 platform to install 218 MW of PV parks across Spain.

(EUR 1 = USD 1.114)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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