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EIB to Finance Construction of 21 Wind Farms in Spain

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The European Investment Bank (EIB) is set to finance one of the biggest wind power infrastructure projects in Spain to date: the construction of 21 wind farms in Andalusia, Asturias, Castilla-La Mancha, Castilla León, Galicia and Navarra. These new facilities will have a total capacity of 547 MW and will generate approximately 1.491 GWh of energy a year overall, a volume equivalent to the power use of 360,000 Spanish homes. It is one of the largest wind power projects financed by the EIB in Spain following its contribution to the financing of the Goya project.
EIB to Finance Construction of 21 Wind Farms in Spain
Courtesy of NREL

EIB Vice-President Emma Navarro, responsible for climate action and the environment at the Bank, commented, “We are delighted to support Spain’s huge renewable energy potential and help the country to meet its climate change targets.”

The wind farms included in this project were winning bids in the renewable energy auction that took place in Spain in July 2017, and have been developed by Alfanar.

Alfanar Global Development General Manager Emmanuel Ozaez, said, “Alfanar has gathered sound human and material resources in Spain, enabling us to implement a project portfolio of up to 3 GW for the 2019-2021 period developed, financed, built and operated by Alfanar and other strategic partners like the EIB.”

The EU bank will provide the project with several loans totaling up to €385 million for construction and implementation. The two entities have already signed the first of these, under which the EIB is providing €44.2 million to develop the first phase of the project. This EU bank financing, together with the additional loan from various financial institutions, will be provided via a Project Finance arrangement for the construction of the first four wind farms, which will have a capacity of around 99 MW.

The loan was signed under the Investment Plan for Europe (known as the Juncker Plan) whose support increases the EIB Group’s capacity to finance investment projects that by their structure or nature have a higher risk profile. This project will not receive any public sector support and is one of the first to be implemented under the new regulatory framework for the industry approved in Spain in 2013.

Once they become operational, the 21 wind farms will help cut greenhouse gas emissions in Spain and expand the production of clean energy using renewable sources. The construction phase will require the employment of approximately 1,900 people, and 170 people will need to be taken on permanently to operate the wind farms.

The EIB, as the world's largest multilateral provider of financing for projects promoting climate action, aims to dedicate at least 25 percent of its investments to climate change mitigation and adaptation, supporting low-carbon growth with climate resilience.

The EIB is the world's largest issuer of green bonds and was the first to make an issue on this market.

 

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José Juan
Tal como con los vehículos automóviles se realiza el plan renove, para sustituirlos cuando su vida ya ha dado suficiente de sí y además de aumentar la contaminación su rendimiento es muy inferior, con los aerogeneradores debiera realizarse la misma operación. Los mejores enclaves para la generación eólica están ocupados por aerogeneradores que además de producir cantidades de energía eléctrica ínfimas entre 1/2 MW y 1,5 MW, han cumplido su ciclo vital o están a punto de hacerlo. En tanto, seguimos llenando los enclaves que van quedando con aerogeneradores nuevos, que producen una enorme contaminación visual y que por estar en enclaves con menor capacidad eólica reducen su producción al situarse en lugares con menor \"Factor de capacidad\". Por otra parte, muchos de los nuevos aerogeneradores no superan la potencia instalada de 4 a 5 MW. Cuando en poco tiempo se instalarán aerogeneradores de más de 8 MW. de potencia instalada. Con lo que nuevamente nos encontraremos con el mismo problema; es decir doble gasto para producir menor cantidad de energía. Si pensamos con la cabeza, veremos que ése problema se puede evitar. Y por otra parte, decir una vez más que España dispone de 6.000 Km de costas en los que la energía Offshore complementada con la undimotriz, pueden producir energía eléctrica para abastecer las necesidades nacionales, exportar electricidad y tecnología que puede producir pingües beneficios a España.