EU backs 21 wind farms in Spain with €385m financing

06/08/2019 08:51 Wind

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The European Investment Bank (EIB) is lending up to €385 million (£354m) to support the construction of 21 new wind farms in Spain.

They will be located in six autonomous communities – Andalusia, Asturias, Castilla-La Mancha, Castilla León, Galicia and Navarra – and have a total installed capacity of 547MW, generating enough electricity to power around 360,000 homes.

 

The wind farms were Saudi Arabian energy group Alfanar’s winning bids in the renewable energy auction in Spain in July 2017.

 

The EIB, which recently proposed to stop funding new fossil fuel projects by 2020, is initially providing €44.2 million (£41m) to develop the first phase of the project.

Source: energylivenews.com

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