Endesa inks new EUR-250m sustainability-linked loan with EIB

Spanish utility group Endesa SA (BME:ELE) said on Monday that it has secured a EUR-250-million (USD 275.1m) sustainability-linked loan from the European Investment Bank (EIB) to continue growing its renewables fleet in Spain.

The financial terms are linked to the condition that Endesa reduces its scope 1 greenhouse gas emissions, the utility said.

The new loan comes after Endesa borrowed EUR 250 million from the EIB in November 2021 under the same sustainability conditions. Both loans are part of a framework programme that could see the EU lender extending a total of EUR 700 million.

Endesa did not say which one of its renewable energy projects will be supported with the latest financing. In 2021, the company grew its renewables capacity in Spain by 8% on the year to 8,300 MW. Its goal for 2030 is to raise the renewables capacity to 24,000 MW, and for that, it is already preparing a portfolio of wind, solar and storage projects.

At present, Endesa has 1,800 MW of projects under construction or approaching the construction stage, it said.

(EUR 1.0 = USD 1.100)

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