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Signature(s)

Amount
€ 550,000,000
Countries
Sector(s)
Spain : € 550,000,000
Energy : € 550,000,000
Signature date(s)
22/07/2022 : € 550,000,000
Other links

Summary sheet

Release date
29 June 2022
Status
Reference
Signed | 22/07/2022
20220085
Project name
Promoter - financial intermediary
IBERDROLA GREEN ENERGY FRAMEWORK LOAN II
IBERDROLA SA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 550 million
EUR 1147 million
Location
Sector(s)
  • Energy - Electricity, gas, steam and air conditioning supply
Description
Objectives

Financing of solar photovoltaic (PV) and wind power projects across Spain, mostly located in cohesion regions (Castile-León, Extremadura and Andalusia).

The operation is proposed to be structured as a framework loan aimed at financing part of Iberdrola's ambitious renewable energy investment programme in Spain throughout the period 2022-2023. The pipeline of plants 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 and contributes to national and EU 2030 climate objectives. It is in line with the Bank's priority energy lending related to on Energy (Renewable Energy) as well as the transversal objectives on Climate Action (mitigation), Environmental Sustainability (Pollution Prevention Control) and Social and Economic Cohesion (93% of CAPEX). 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.

 

Quality and Results is rated Very Good. The project has an

excellent economic return and the current electricity market prices are not

fully reflecting the value of electricity. Besides, the promoter has a

recognised in-house design and project management capacity with a significant

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). 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
Procurement

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

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

Related documents
Related projects
Link to source

Disclaimer

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).

Documents

Environmental and Social Data Sheet (ESDS) - IBERDROLA GREEN ENERGY FRAMEWORK LOAN II
Publication Date
10 Sep 2022
Document language
Main Topic
Lending
Document Number
156756973
Document Focus
Environmental Information
Project Number
20220085
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - IBERDROLA GREEN ENERGY FRAMEWORK LOAN II - Planta Fotovoltaica 'Velilla-Virgen de Areños' - Estudio de Impacto Ambiental
Publication Date
24 Oct 2024
Document language
Main Topic
Lending
Document Number
235127125
Document Focus
Environmental Information
Project Number
20220085
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - IBERDROLA GREEN ENERGY FRAMEWORK LOAN II - Planta Solar Fotovoltaica 'Villarino' - Estudio de Impacto Ambiental Actualizado
Publication Date
24 Oct 2024
Document language
Main Topic
Lending
Document Number
235128369
Document Focus
Environmental Information
Project Number
20220085
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - IBERDROLA GREEN ENERGY FRAMEWORK LOAN II - Planta Fotovoltaica 'Revilla Vallejera' - Estudio de Impacto Ambiental - Reportaje Fotográfico
Publication Date
26 Oct 2024
Document language
Main Topic
Lending
Document Number
170797684
Document Focus
Environmental Information
Project Number
20220085
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - IBERDROLA GREEN ENERGY FRAMEWORK LOAN II - Planta Fotovoltaica 'Velilla-Virgen de Areños' - Estudio de Impacto Ambiental - Documento de Síntesis
Publication Date
26 Oct 2024
Document language
Main Topic
Lending
Document Number
235125718
Document Focus
Environmental Information
Project Number
20220085
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - IBERDROLA GREEN ENERGY FRAMEWORK LOAN II - Parque Eólico 'El Puntal II' - Informe Ciclo anual de Avifauna
Publication Date
26 Oct 2024
Document language
Main Topic
Lending
Document Number
170798278
Document Focus
Environmental Information
Project Number
20220085
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - IBERDROLA GREEN ENERGY FRAMEWORK LOAN II - Planta Fotovoltaica 'Revilla Vallejera' - Estudio de Arqueología
Publication Date
26 Oct 2024
Document language
Main Topic
Lending
Document Number
170795082
Document Focus
Environmental Information
Project Number
20220085
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - IBERDROLA GREEN ENERGY FRAMEWORK LOAN II - Planta Fotovoltaica 'Revilla Vallejera' - Planos
Publication Date
26 Oct 2024
Document language
Main Topic
Lending
Document Number
170797116
Document Focus
Environmental Information
Project Number
20220085
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - IBERDROLA GREEN ENERGY FRAMEWORK LOAN II - Planta Fotovoltaica 'Revilla Vallejera' - Estudio de Impacto Ambiental
Publication Date
26 Oct 2024
Document language
Main Topic
Lending
Document Number
170797858
Document Focus
Environmental Information
Project Number
20220085
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - IBERDROLA GREEN ENERGY FRAMEWORK LOAN II - Planta Fotovoltaica 'Revilla Vallejera' - Estudio de Impacto Ambiental - Análisis de Riesgos
Publication Date
26 Oct 2024
Document language
Main Topic
Lending
Document Number
170791135
Document Focus
Environmental Information
Project Number
20220085
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - IBERDROLA GREEN ENERGY FRAMEWORK LOAN II - Planta Fotovoltaica 'Revilla Vallejera' - Resumen no Técnico
Publication Date
26 Oct 2024
Document language
Main Topic
Lending
Document Number
170794961
Document Focus
Environmental Information
Project Number
20220085
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - IBERDROLA GREEN ENERGY FRAMEWORK LOAN II - Planta Fotovoltaica 'Velilla-Virgen de Areños' - Memoria Final de Prospección Arqueológica
Publication Date
26 Oct 2024
Document language
Main Topic
Lending
Document Number
235128039
Document Focus
Environmental Information
Project Number
20220085
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - IBERDROLA GREEN ENERGY FRAMEWORK LOAN II´- Planta Solar Fotovoltaica 'Villarino' - Estudio de Effectos Acumulativos y Sinérgicos
Publication Date
26 Oct 2024
Document language
Main Topic
Lending
Document Number
235536222
Document Focus
Environmental Information
Project Number
20220085
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - IBERDROLA GREEN ENERGY FRAMEWORK LOAN II - Parque Eólico 'El Puntal II' - Estudio de Impacto Ambiental
Publication Date
8 Jun 2023
Document language
Main Topic
Lending
Document Number
170799824
Document Focus
Environmental Information
Project Number
20220085
Sector(s)
Regions
Countries
Publicly available
Download now
Link to source

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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.
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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.

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