Spain's Banco Santander sets up renewables investment platform

Wind farm. Author: fantastklywell.

March 24 (Renewables Now) - Spanish lender Banco Santander SA (BME:SAN) said today that it has established Santander Green Investment, a platform to invest in renewable energy projects that are under development or construction.

The platform has already made its first investment by acquiring stakes in nine solar and wind projects in Spain with a combined capacity of around 500 MW, the bank said.

Santander Green Investment will self-govern, and have a special committee to approve investments. Its investment framework is such that it can grant renewable energy projects the bank guarantees that they need and set up partnerships with experienced developers in the sector, the lender further added.

As a financier of renewable energy projects, Banco Santander mobilised EUR 65.7 billion (USD 72.2bn) between 2019 and 2021, it highlighted.

(EUR 1.0 = USD 1.099)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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