Support for renewable energy: EIB joins forces with Natixis to co-finance the construction of nine solar power plants in Spain
- The EU bank will provide EUR 66m to Natixis to co-finance the construction of the two complexes with a total capacity of 436 MW
- The two new renewable energy projects will help create up to 700 jobs during the implementation phase
- The solar power plants will be located in the provinces of Seville, Cáceres, Valladolid, Salamanca and Huesca
The EIB is among the world's largest multilateral providers of green finance. The Bank's goal is to be a leader in mobilising the finance needed to keep global warming to under 2 ˚C and limit temperature rises to 1.5 ˚C in order to meet the Paris Agreement objectives. On 14 November, the EIB Board of Directors approved its new climate objectives and the new energy lending policy. The Bank will gradually increase its financing for climate and environmental objectives up to 50% by 2025, with the goal of ensuring that the EIB Group mobilises at least EUR 1tn by 2030 to promote investments helping to meet these objectives. It also announced its intention to align all EIB Group activities with the Paris Agreement. To this end, the EIB will cease financing fossil fuel-based projects by the end of 2021.
In 2018, the EIB provided almost EUR 1.3bn to support climate action in Spain by financing projects involving the development of cleaner means of transport and implementation of new, less polluting and more environmentally friendly, production processes.
The European Investment Bank (ElB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investments to contribute towards EU policy objectives.
Press Relations, Natixis
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