Spain will soon see a further 21 new farms thanks to €385 million in financing by the European Investment Bank (EIB).
The wind plants will be constructed in six of the country’s autonomous communities, in Asturias, Andalusia, Castilla-La Mancha, Castilla León, Galicia and Navarra, with enough capacity to power approximately 360,000 homes.
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The 547MW portfolio was won as part of a renewable energy auction to Saudi Arabian energy company Alfanar, in Spain in July 2017.
The EIB will provide an initial tranche of €44.2 million for the first phase of development.
EIB vice president Emma Navarro, responsible for climate action and the environment, said:“We are delighted to support Spain’s huge renewable energy potential and help the country to meet its climate change targets. This project is a clear example of the EIB’s priorities in Spain: promoting the transition to a low carbon economy by supporting sustainable economic growth and job creation.”
Emmanuel Ozaez, Alfanar global development general manager, added: “Over the next few years, Spain is set to be a European leader in the energy transition to a technology mix where renewable power generation is the central pillar of the energy industry.
“Alfanar has gathered sound human and material resources in Spain, enabling us to implement a project portfolio of up to 3GW for the 2019-2021 period developed, financed, built and operated by Alfanar and other strategic partners like the EIB.”