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    Reference: 20200221
    Release date: 9 July 2020

    Promoter – Financial Intermediary

    IBERDROLA SA

    Location

    Description

    Financing of a photovoltaic (PV) scheme (328MWp) in the Spanish region of Extremadura.

    Objectives

    The operation will be key in order to increase electricity generation from renewable energy sources in Spain, in line with climate targets adopted for 2020, 2030 and 2050. The investment will be located in Extremadura, a Spanish cohesion region with scarce employment opportunities.

    Sector(s)

    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    EUR 96 million

    Total cost (Approximate amount)

    EUR 193 million

    Environmental aspects

    The project includes RDI activities that are not specifically mentioned under the Environmental Impact Assessment (EIA) Directive and that will be carried out in existing facilities without changing their already authorized scope. The project will therefore not require an EIA under the directive 2014/52/EU amending directive 2011/92/EU. In case the project includes schemes that require EIA, the Promoter will be requested to comply with applicable EU legislation, as appropriate.

    Procurement

    The Promoter is a public utility operating in the energy sector and is therefore subject to the requirements of the Directive 20014/25/EU. The Bank will require the Promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation.

    Status

    Approved - 17/06/2020

    Disclaimer

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

    Related tags

    Spain Energy