EIB supports Spain’s renewable energy projects

The European Investment Bank (EIB) and Naturgy have finalised a €1 billion loan agreement to enhance Spain’s renewable energy capacity.

The funding will support the construction of new solar and wind power stations, modernise existing facilities into hybrid sites, and invest in renewable energy storage solutions. An initial €400 million tranche was signed in Madrid.

The project aims to boost Spain’s renewable energy generation by 2.3 GW, providing green electricity to power over 1.15 million homes annually.

It will also create 4,200 jobs during implementation, particularly in regions with lower per capita income, contributing to economic and territorial cohesion.

“This agreement reflects the EIB’s commitment to Europe’s energy transition and strategic autonomy,” said EIB Director General Jean-Christophe Laloux.

Naturgy Executive Chairman Francisco Reynés emphasised the role of these investments in decarbonising Spain’s economy and fostering regional development.

The loan aligns with the EIB’s REPowerEU plan to advance energy security and sustainability across Europe.

Attribution: the European Investment Bank (EIB)

Subediting: M. S. Salama