Search En menu en ClientConnect
Top 5 search results See all results Advanced search
Top searches
Most visited pages


    € 999,999,999.4
    Portugal : € 44,300,000
    Germany : € 52,269,999.94
    Spain : € 903,429,999.46
    Energy : € 999,999,999.4
    Signature date(s)
    7/06/2023 : € 44,300,000
    7/06/2023 : € 52,269,999.94
    7/06/2023 : € 903,429,999.46
    Link to source

    Summary sheet

    Release date
    29 June 2023
    Signed | 07/06/2023
    Project name
    Promoter - financial intermediary
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 1000 million
    EUR 1790 million
    • Energy - Electricity, gas, steam and air conditioning supply

    Financing of a set of renewable energy projects across Spain, Portugal and Germany in support of the REPowerEU initiative.

    The operation is proposed to be structured as a framework loan aimed at financing part of Iberdrola's renewable energy projects in Spain, Portugal and Germany throughout the period 2023-2025. The pipeline of projects to be included under this operation will be a combination of onshore wind and solar-photovoltaic power plants.

    Additionality and Impact

    The project increases renewable energy generation capacity in Spain, Germany and Portugal and contributes to national and EU 2030 climate objectives. The financing of this project also contributes to Bank's lending priority objectives on Energy (Renewable Energy) as well as on climate action (transversal), and partially on economic and social cohesion (transversal). The project produces electricity from low carbon sources (solar PV and onshore wind), addressing the market failure of negative climate and environmental externalities, through the reduction of carbon emissions and air pollution (compared to fossil-fuel generation). As the schemes are expected to rely (at least partially) on revenues from the market (the wholesale market and/or unsubsidized commercial Power Purchase Agreements), in a sector characterised by incomplete markets (limited forward/hedging, lack of scarcity and locational pricing), the project improves market efficiency and competition. The schemes are expected to be located mostly in EIB Cohesion Priority regions.

    The project has an excellent economic return considering the expected costs and the economic value of the electricity generated (factoring in fully the positive externalities). The promoter has a proven track record of international energy projects.

    The Bank's financial contribution is considered very good and valuable to the client, as the EIB's offering is more favourable than market alternatives under various dimensions (e.g. longer tenor, availability and grace periods, convertible or revisable rates, disbursement conditions). The promoter deems financing with an "EIB Green Loan" label as a stamp of quality on its investments and environment-related procedures and consistent with its green finance framework.

    Environmental aspects

    Iberdrola will be requested to comply with applicable national and EU legislation.

    Iberdrola will be requested to comply with applicable national and EU legislation.

    Under appraisal
    3 May 2023
    7 June 2023
    Link to source


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).


    Environmental and Social Data Sheet (ESDS) - IBERDROLA REPOWEREU FRAMEWORK LOAN
    Publication Date
    19 Jul 2023
    Document language
    Main Topic
    Document Number
    Document Focus
    Environmental Information
    Project Number
    Publicly available
    Download now

    News & Stories

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

    Media enquiries

    Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

    Complaints mechanism

    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

    Zero tolerance against fraud and corruption

    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

    Related publications