EU bank approves €4.9bn for green projects in first meeting without the UK

13/02/2020 10:35 Renewable


The European Investment Bank (EIB) has approved €4.9 billion (£4bn) of funding for climate-friendly infrastructure projects in its first board meeting without the UK.

It is providing financial support for projects in areas including clean energy, sustainable transport and industrial energy efficiency.


New targeted credit lines will support climate action by companies in Bulgaria, Italy, Romania and Spain, improve access to finance by energy, tourism and education companies, help agriculture firms in Romania to expand and encourage circular economy investment in Spain.


Around €1 billion (£0.8bn) of the financing will be invested in clean energy projects across Europe and Central Asia, which includes support for 18 new solar projects in central Spain, renewable energy projects in Austria and Italy as well as new transmission infrastructure in the Netherlands to distribute electricity generated by wind farms in the North Sea.


A total of €983 million (£826m) of new investment will go to sustainable transport projects, which include upgrading urban and regional rail links in Denmark, Germany, Italy and Poland.



Daily (06.04.2019): Brent crude jumped by nearly 14% on Friday, on hopes for new output cuts by world oil leaders

06/04/2020 11:06:00

Crude oil prices rebounded on Friday, marking the first weekly rise in more than a month, after OPEC leader, Saudi Arabia, announced the willingness to have an emergency meeting to potentially cut oil supplies and solve the oil price war. Consequently, Brent crude for June delivery traded 13.9% higher at $34.11 a barrel. Similarly, WTI futures spiked by 11.9% to $28.34 a barrel.


Innogy commits to 342MW Kaskasi

06/04/2020 10:58:00

Innogy has given the go-ahead to its third German offshore wind farm having taken a final investment decision (FID) for the construction of the 342MW Kaskasi project in the North Sea.


German hourly power drops to minus 50.26 euros per MWh for Sunday

06/04/2020 10:54:00

German day-ahead power prices plunged as low as EUR -50.26/MWh on an hourly basis for a fourth consecutive Sunday amid low demand and high renewables feed-in.